QuantHouse has just announced the addition of Euronext’s product to its clients. The aggregated central market data feed for foreign exchange is becoming available via the company’s API.
The FX Tape product is aggregating data from multiple in addition to the Fastmatch ECN. The reliability of the data is securing a reliable and accurate representation of the broader market for benchmarking best execution, market surveillance, compliance applications, and other uses.
“The FX Tape is a unique offering in the market which will continue to grow as additional contributors join with differentiated data which enhances the value of the product,” commented to Finance Magnates the CEO of FastMatch, Kevin Wolf.
Wolf also elaborated that the bulk of interest for access to FX Tape is coming from institutional users. The company shared that the pricing of the product is in line with other institutional market data offerings.
To date, Euronext’s FastMatch FX Tape is leading the way in delivering to the market a consolidated dataset of foreign exchange quotes combining a multitude of sources. The product’s availability in the market, not only makes pre- and post-trade benchmarking possible, but also delivers a reference point for executed trades in the spot FX market.
QuantHouse is adding FX Tape to its QuantFeed product which is normalizing and disseminating market data from over 140 feeds.
With over 300 buy-side firms and investment banks connected to the QuantHouse API Ecosystem, the addition of FastMatch’s product to the ecosystem opens new market opportunities.
Commenting on the launch, the CEO and Co-founder of QuantHouse, Pierre Feligioni, said: “Whether you sit on the buy-side or sell-side, anyone who trades FX will benefit from being able to access the FastMatch FX tape. We commend FastMatch for looking to create the first consolidated tape for the FX market and are delighted to be able to help expand their reach through our API global community of users.”
As the CEO of FastMatch, Kevin Wolf, explains, the company’s product recently got attention from several Central Banks in the aftermath of the January 2019 USDJPY flash crash. Having reliable source to match data is validating the value of having an independent reference point in the market.
“We anticipate that QuantHouse will act as a complementary channel for those wishing to access the FX Tape in addition to our suite of Spot FX Market Data products,” elaborated Wolf.
Last year to its product, while for its customers as an additional benchmark.
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