Technology provider FIA Tech has created a network called the Databank Network, an initiative to bring together independent software vendors (ISVs), exchanges, clearing houses and other data providers into an interoperable global network.
Through the new network, FIA Tech, which supplies software to the exchange-traded derivative industry, aims to simplify the use of reference data, analytics and software solutions from participating firms.
Order management tool software provider CQG will be the first external ISV to join the network.
By incorporating CQG’s capabilities into the global product reference data, maintained on the Databank Network, CQG platforms will be fully interoperable with all FIA Tech services as well as other future ISV participants in the network.
FIA Tech’s Databank provides firms with a cross-reference of exchange and vendor product knowledge, which can be used by subscribers to simplify integration of systems, communicate easily with clients and counterparties, and simplify integration to FIA Tech services.
Databank Network unifies reference data from more than 80 exchanges and central counterparties globally.
Commenting on the initiative, Andrew Castello, head of reference data at FIA Tech, says: “We are thrilled that CQG is joining Databank Network and CQG customers will have ready access to the industry services FIA Tech provides.
“This partnership is a further example of FIA Tech’s commitment to supporting the ISV community to further our mission to bring innovation to the derivatives industry.”
Pat Kenny, senior vice president of client relations at CQG, comments: “We are delighted to join the Databank Network as the first ISV. We are pleased to be part of this industry-wide, global solution to streamline information for market participants and appreciate FIA Tech’s leadership on this effort.”
FIA Tech was launched in 2007 by the Futures Industry Association, the trade association representing futures industry market participants including clearing firms, banks, exchanges and buy-side institutions.
