Tradition launches revamped market data business with a modular data consumption model
Flexible data packages ensure clients only pay for the data they need
Tradition, one of the world’s largest interdealer brokers in over-the-counter commodity and financial products, has launched its newly-revamped market data and information services division, TraditionDATA.
Over the course of 2018, the company completed a comprehensive re-structuring of its market data business. Key to this transition was the appointment of a new executive management team to run TraditionDATA. The team subsequently embarked on re-branding the business, modifying its pricing model, adding new and updated product packages, enhancing its technology to make it easier for clients to consume data, and adding to the sales and product teams in all regions.
Tradition has more than 2,300 employees in 29 countries, and has built up decades of granular, historic data and trading activity for both liquid and illiquid products. Recognising the value of this information and following demand from customers, the new team introduced a flexible, modular data consumption model, improved and added to its product base and developed proprietary distribution technology.
TraditionDATA’s new modular data consumption model offers flexible data packages tailored to individual requirements, ensuring clients only pay for the specific data they need. This is in contrast to the majority of data vendors that require customers to buy data packages with vast quantities of information that they do not need or do not know how best to utilise. It also avoids the complex process of unbundling, analysing and extracting valuable data points.
TraditionDATA also announced the launch of INTEGRATE, a proprietary in-house market data delivery channel. It is designed for clients that prefer to purchase data directly from Tradition, rather than through their accredited third-party providers. INTEGRATE offers access to granular, real-time, end-of-day and historical data tailored to suit individual trading strategies.
Over the last 12 months, the revamped division, led by Scott Fitzpatrick, has focussed on developing new product as well as enhancing existing products and combining globally sourced price information from its brokerage business across all OTC derivative asset classes with analytic driven data production to provide highly sought after data.
Scott Fitzpatrick, Head of TraditionDATA, comments: “The pricing and consumption models for market data have largely remained the same for the last decade and is no longer fit for purpose. Our goal is to make our data easy to buy and available in a way that is efficient for consumption. That’s why we created a flexible, modular data model that reflects the evolving market need, the ever-changing regulatory landscape and addresses the cost pressures faced by many customers.”
Fitzpatrick continued: “We have made excellent progress in building our global team and growing the business over the last 12 months, and will continue to add people and resources where we need them. We have an exciting pipeline of new products coming to market soon which we will continue to deliver to clients in a way that best suits their data consumption requirements.”
“The days of large, pre-bundled and expensive data packages are coming to an end. I believe that our global coverage, granularity and depth of data, coupled with the ability to buy tailored data packages, offers much-need choice.”
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TraditionDATA is the market data and information services division of Tradition, and provides consistent, high-quality financial market data that reflects real price interest in global OTC swaps markets. This includes interest rate derivatives, energy and commodities, credit, fixed income, FX and money markets.
Real-time, intra-day, end-of-day and historical pricing originates from Tradition’s global brokerage business. In addition to comprehensive coverage of the most liquid markets, our extensive product and geographic coverage means we can penetrate illiquid markets to provide hard-to-find prices in developing products and regions.
Data can be delivered directly from Tradition or from one of our distribution partners. For more information, please visit www.traditiondata.com.
Tradition is one of the world's largest wholesale market brokers in over-the-counter financial and commodity related products. Represented in 29 countries, Tradition employs more than 2,300 people globally. Tradition is the trading name of Compagnie Financière Tradition (CFT), which is listed on the Swiss stock exchange.
Tradition's activities are overseen by global regulators including the FCA, SEC and CFTC. For more information, please visit www.tradition.com.