Interdealer broker ICAP and futures exchange CME Group have teamed up to launch a new app to deliver real-time OTC and exchange-traded futures data to market participants.
The web-based application, called RapidRV, will enable data to be analysed in real-time and enable users to share trading ideas with their clients or counterparties.
It was developed by financial applications specialist The Beast Apps and utilises cloud distribution to enable it to be fully scalable and available globally.
RapidRV live streams futures prices from CME Group while ICAP feeds the app with data on OTC derivatives and US Treasuries from its GovPX and SwapPX platforms.
ICAP said the combined data set will enable users to identify relative value opportunities between OTC and futures and markets.
Features include real-time displays and calculators for market data, relative value and hedge ratios between various contracts. It can also continually calculate opportunities between OTC and futures markets.
Sean Tully, senior managing director of financial and OTC products at CME Group, said: "We’re always looking at new ways to improve upon our customer experience and make our highly liquid futures markets more efficient and accessible for all types of participants.”
The service is big made available with a monthly subscription basis, including all market data fees.