Tradition to boost data reach through NEX Data
13 January 2017 New York
Image: Shutterstock
Global pricing data provider NEX Data is set to become a distributor of Tradition鈥檚 market data and information services division, TraditionDATA.
The data will include real-time and end-of-day prices sourced directly from Tradition鈥檚 global electronic, hybrid and voice broking operations in all asset classes.
It also covers data from Trad-X, Tradition鈥檚 electronic trading platform for over-the-counter (OTC) derivatives, and Tradition Asia, the inter-dealer broker鈥檚 Japanese and pan-Asian division.
Kevin Taylor, managing director of NEX Data, said: 鈥淚n the current era of regulatory change, the need for accurate and reliable trade-backed data continues to grow as it provides greater transparency of financial markets.鈥�
鈥淭his is particularly true of OTC derivatives which are traditionally transacted over the phone via voice brokers and feature a number of hard-to-price, less liquid assets than those traded electronically.鈥�
鈥淏y acting as a distributor to Tradition, which offers complementary data services to NEX Data, we are able to expand our multi-asset class and Asian market coverage and develop new services in pricing, analytics and indices. This will help our clients conduct pre-trade analysis, aid price discovery, inform investment decisions and manage risk.鈥�
Dan Marcus, global head of strategy and business development at Tradition, added: 鈥淭radition has a long history of arranging, managing and executing across a range of liquid and illiquid financial products, instruments and asset classes globally.鈥�
鈥淥ur decades of expertise and brokerage experience has allowed us to build up a rich database of historic data and trading activity. This offers a crucial independent pricing source for market participants seeking to source liquidity and accurately price and manage risk.鈥�
The data will include real-time and end-of-day prices sourced directly from Tradition鈥檚 global electronic, hybrid and voice broking operations in all asset classes.
It also covers data from Trad-X, Tradition鈥檚 electronic trading platform for over-the-counter (OTC) derivatives, and Tradition Asia, the inter-dealer broker鈥檚 Japanese and pan-Asian division.
Kevin Taylor, managing director of NEX Data, said: 鈥淚n the current era of regulatory change, the need for accurate and reliable trade-backed data continues to grow as it provides greater transparency of financial markets.鈥�
鈥淭his is particularly true of OTC derivatives which are traditionally transacted over the phone via voice brokers and feature a number of hard-to-price, less liquid assets than those traded electronically.鈥�
鈥淏y acting as a distributor to Tradition, which offers complementary data services to NEX Data, we are able to expand our multi-asset class and Asian market coverage and develop new services in pricing, analytics and indices. This will help our clients conduct pre-trade analysis, aid price discovery, inform investment decisions and manage risk.鈥�
Dan Marcus, global head of strategy and business development at Tradition, added: 鈥淭radition has a long history of arranging, managing and executing across a range of liquid and illiquid financial products, instruments and asset classes globally.鈥�
鈥淥ur decades of expertise and brokerage experience has allowed us to build up a rich database of historic data and trading activity. This offers a crucial independent pricing source for market participants seeking to source liquidity and accurately price and manage risk.鈥�
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