CME unveils benchmarking tool ENSO Data Insights

Benchmarking tool for hedge funds aims to help with best execution and decision-making.

CME Group has launched a new benchmarking tool designed to aid hedge funds with best execution financing through its alternatives investment data service ENSO.

ENSO Data Insights is a community benchmarking tool which uses its alternative data set to help users evaluate how market dynamics are driving costs and demands to borrow stock, optimise counterparty management and seize alpha-generating opportunities.

The tool aims to provide hedge funds, asset managers and banks with access to a diverse pool of global multi-asset class securities to help them compare best execution financing rates, trend analysis for long and short position sector changes, sector breakdown, top position movers, crowdedness scoring, and the most active stock borrow rate changes as it relates to the ENSO Rate. 

“Until now, the market has had limited access to aggregated and anonymised long and short alternative data”, said Paul Busby, global head of ENSO.

“ENSO Data Insights taps into our derived data to provide the market with a unique insight into how trending securities are being positioned by alternative fund managers. This allows for an enhanced analytical process, driving better informed investment and best execution financing decisions.”

CME acquired ENSO in late 2018 as part of its £3.9 billion deal for NEX Group, which also consisted of Abide Financial, EBS BrokerTec, Euclid Opportunities, NEX Data, NEX Exchange, Reset, Traiana and TriOptima.

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