TP ICAP launches NDF data feed from electronic and voice liquidity pools

The NDF Premium data feed from TP ICAP will include data from the broker’s hybrid trading platform for electronic and voice liquidity.

Interdealer broker TP ICAP has launched a new data feed for non-deliverable forwards (NDFs), which captures data from both electronic and voice liquidity pools.

Known as NDF Premium, the new data feed was developed by the data and analytics division at TP ICAP. The anonymised feed provides data on orders and matches from ICAP’s hybrid electronic platform, FUSION, for electronic and voice liquidity information.

TP ICAP said typically data feeds have provided data from either electronic platforms or indicative data from voice, which provides a one-dimensional view of the market. By merging voice and electronic liquidity pools, the broker added NDF Premium offers a more comprehensive view, alongside greater transparency and price discovery.

“With more dealers streaming NDF prices comes the opportunity to create a more effective NDF data feed, which we feel will appeal to both sell and buy-side clients,” said Eric Sinclair, CEO of data and analytics at TP ICAP. “Capturing voice and electronic liquidity pools and with an order book as deep as 25 individual market maker stacks, we are confident that NDF Premium will equip clients with vital insight into market activity to help meet their individual needs.”

NDF Premium supports tradeable instruments such as outright liquidity swaps and fixings for a number of Asian and Latin America currencies, with intra-day executable rates, depth of book, mid-market auctions and trade activity in one feed.

The launch of NDF Premium follows a separate bond pricing data tool which TP ICAP introduced last month. Bond evaluated Price offers clients transparent pricing to manage internal risk management processes for exposure to government, corporate and supranational bonds.

More recently, TP ICAP entered into a multi-year agreement with Trading Technologies to install the technology provider’s order management system. As part of the deal, TP ICAP will replace 85 trading systems in London, Paris and New York with the Trading Technologies OMS platform.