The upward trend in co-operation

Anya van den Berg, vice president of analytics at Deutsche Börse, explores the increase in data exchange between venues as well as the availability of new and unique market data products developed directly by the exchanges themselves.

Alliances between exchanges and other trading venues are nothing new across the capital markets space, however the past few years have seen these partnerships skyrocket with a plethora of interesting co-operations being announced. Exchanges are not only leading the marketplace with their own unique analytics but are also actively acquiring independent data providers to leverage their alternative and big datasets. This has created a truly compelling combination of offerings for investors, who can now move into new markets, securities, and asset classes with relative ease. Recent examples of this include the Cboe completion of NEO and ErisX and the London Stock Exchange acquisition of Refinitiv and TORA.

Anya van den Berg

At Deutsche Börse, the Group has echoed this level of M&A engagement and acquired several organisations over recent years, including Institutional Shareholder Services (ISS), Clearstream Fund Centre AG, Quantitative Brokers and Crypto Finance AG. The organisation has also just announced in June of this year a partnership with Kaiko to extend its offering into the crypto sector with both real-time and historical tick level data for all crypto exchanges and all digital assets from the provider. In addition to this, Deutsche Börse has partnered up with the Mexican Stock Exchange (BMV Group), Pakistan Stock Exchange, Korea Exchange and the Guangzhou Futures Exchange to enable other trading participants to benefit from their technology.

Most notably however is the latest co-operation project with CME Group, which has allowed Deutsche Börse’s customers to access a unique combination of historical market data across two of the largest derivatives markets in a single cloud-based interface. A7 Analytics provides nanosecond precise order book data across Eurex, Xetra and EEX markets alongside CME Group market data.

As one of the world’s leading and most diverse derivatives marketplace, CME Group offers a wide range of futures and options datasets across interest rates, equity indexes, foreign exchange, energy, agriculture, and metals products. These datasets are generated across CME Group’s four major exchanges that are all including within A7: Chicago Board of Trade (CBOT), Chicago Mercantile Exchange (CME), Commodity Exchange (COMEX) and New York Mercantile Exchange (NYMEX). 

A7 customers will therefore have direct access to order-by-order historical market data in nanoseconds granularity without any heavy lifting, instantly pulling results down a high-speed API. The Algo-engine will allow customers to back-test across the full depth of book and across the aforementioned markets allowing them to quickly grasp market situations and easily drill down into the market microstructure. A7 therefore enables a broader community of investors to identify actionable insights with greater speed and less complexity.

For a high-level overview of this offering, please feel free to view our one-minute video that summarises this capably here.

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