Global Derivatives Indices (GDI) will use Tullett Prebon Information’s (TPI) independent OTC derivatives data as part of its index benchmarks.
GDI licenses its indices for the creation of futures contracts to group company Global Markets Exchange Group (GMEX), which plans to launch a multilateral trading facility this year.
The initial launch will focus on GMEX’s constant maturity futures contracts for interest rate swaps, which will be traded on its London derivatives exchange.
“This is an important and exciting strategic alliance with one of the world’s leading inter-dealer brokers and its global information arm, which will help ensure the index benchmarks underpinning our innovative futures contracts have very high standards of data integrity,” Hirander Misra, CEO of GMEX and chairman of GDI, said.
Frank Desmond, managing director, Tullett Prebon Information, part of inter-dealer broker Tullett Prebon, said both competition and regulatory change are driving the need for trusted data.
“Our partnership with GMEX Group and its index division is testament to this increasing demand for high quality, independent data, which is essential for the creation of credible benchmarks that underpin global trading activity,” he said.