On Monday, Tenfore Systems, an independent provider of real-time and historic global market data, announced that vwd group, a German provider of financial information systems, went live with Tenfore’s FX data feed, Tenforex. This enables vwd to provide real-time prices to over 40,000 terminal and web-based customers in Germany, including private banking, wealth management and retail banking firms, says Tenfore.
vwd group signed the deal with Tenfore in March 2007. Using Tenfore’s Broadcast Application Programming Interface (API), the company integrated Tenforex into its terminal and web-based applications before going live in July 2007. vwd group now delivers Tenfore’s FX rates via a standard package containing 17 major cross rates, and through its package containing all available Tenfore cross rates including exotic currency pairs, says the firm.
Tenforex is an independently sourced feed based on currency rates from over 30 major contributors. Contributors to Tenforex include FX portals such as HotSpot FX and Saxo Bank, industry specialists such as Tullett Prebon and Rada Forex, and investment banks such as Dresdner and UBS.
“Data quality was one of our top priorities in choosing a provider. We selected Tenforex because of its breadth of contributors and its ability to provide accurate rates within the market range. Tenfore was also able to accommodate our bespoke requirements and provide flexible commercials to fit our business,” notes Sabine Alvarez, executive director, content, vwd group.
The broadcast API provides a development environment for applications that need to access Tenfore’s streaming ‘raw’ data feed. Tenfore’s APIs offer integration of its data into third party applications and for the contribution of client data through the Tenfore network. They are designed to accommodate differing client requirements and constraints including environment, data usage and development resources.