NEX Data - a subsidiary of NEX Group - has announced a global data distribution partnership with Tradition, an interdealer broker in OTC commodities.
The partnership will see NEX become a key distributor for Tradition, providing market data and information services to TraditionDATA.
Real-time and end-of-day prices will be sourced directly from Tradition’s electronic and voice broking operations, across asset classes including interest rate derivatives, money markets and fixed income.
Kevin Taylor, managing director at NEX Data, explained regulatory change means the need for accurate and reliable trade-backed data continues to grow.
“This 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,” he added.
Dan Marcus, global head of strategy and business development at Tradition, said the partnership with NEX Data “will be mutually beneficial.”
He explained: “It will substantially expand the reach and distribution of our respective complimentary market data and information services and enable our clients to benefit from a wider set of data sources.”