Tradefeedr, the community-based, FX data and analytics provider building trust and transparency in the foreign exchange market, announced that the company has now launched its ground-breaking FX platform.
By delivering a unified framework for sharing information, Tradefeedr provides a much clearer picture of the whole market’s data and analytics than currently exists. Tradefeedr has created a common, truly independent FX trading database allowing market participants across the sell-side, buy-side, regional banks, hedge funds, brokers and central banks to connect, analyse their trading data and collaborate.
The company has signed up and is rolling out its solution to more than 15 sell-side and more than 20 buy-side participants, all global leading institutions. A further 20 others are in the pipeline and as the community of participants grow, this will create a powerful network effect as more and more users join.
Seth Johnson, Chairman of Tradefeedr said: “We are delighted by the overwhelmingly positive response from major FX participants who have now joined the Tradefeedr community. This demonstrates that there is a real need in foreign exchange to trade using correct and standardised data, allowing faster and more accurate flows. It also reflects the benefits of a system that allows much better decision making and better relationships, while also adhering to the FX Global Code’s principles of transparency and effective communication that supports a robust, fair, open, liquid, and appropriately transparent FX market.”
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Balraj Bassi, the Co-Founder, added: “Since our inception, Tradefeedr’s vision has been to deliver superior data transfer across the global FX trading community. We are excited to now roll out the platform amongst our leading liquidity providers and consumers who will be able to submit and receive their trading data amongst each other and with ECNs & trading venues over a single API.”
“FX trading data and analytics are currently siloed between venues and the sell and buy-side,” added Alexei Jiltsov, Co-Founder. “Users rely upon incomplete, inaccurate data, and before Tradefeedr, there has not been any method to work together with trading flows based on a common set of data. The significant adoption we have witnessed is a testament to the support for our vision and business model focused on transforming the FX marketplace for the benefit of all participants.”
