September 08, 2021 - Tradefeedr, the community-based, FX data and analytics provider announced today it is has partnered with PrimeXM, a leading fintech provider focused on liquidity aggregation, order routing and ultra-low latency hosting and connectivity, to deliver Tradefeedr’s data analytics to clients using its XCore technology stack provided by PrimeXM.
Tradefeedr was established in 2018 by Balraj Bassi and Alexei Jiltsov, who had previously worked together at Lehman Brothers and launched Blacktree, a macro systematic hedge fund which was in operation between 2008 - 2015. In December 2020 Tradefeedr received $3 million in funding from IPGL, the private investment company owned by Lord Michael Spencer, the founder of global markets company, ICAP plc and subsequently financial technology business, NEX plc. Seth Johnson, former CEO of NEX Markets, also supported the fund raising and was appointed as Tradefeedr's Chairman.
In June 2021, Tradefeedr launched its ground breaking FX data analytics platform with more than 15 leading sell-side and 20 major buy side firms onboarding and another 20 in the pipeline.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 PrimeXM partnership allows participants of PrimeXM’s XCore community to gain access to advanced trading data management and analytics in a seamless way. XCore aggregates liquidity and supports multi-asset classes, across an excess of 120 industry leading market makers, with support for multiple industry standard interfaces.
The partnership will deliver the full suite of Tradefeedr’s collaborative tools to PrimeXM clients on demand when they elect to gain connectivity with Tradefeedr.
Tradefeedr Co-Founder Alexei Jiltsov said, “In today’s markets, trading, analytics and collaboration with your counterparties is an essential part of the trading solution and there is a significant variation in the amount and quality of data inputs that enable users to make the best decisions. The partnership with Prime XM is a natural fit for Tradefeedr given the seamless integration with XCore tech, providing trading and market access to their institutional clients. We are excited to be working with the PrimeXM team sharing a similar ethos of value-add technology solutions to clients who are looking for advanced trading data management.”
PrimeXM COO, Galin Georgiev commented, “As an ultra-low latency aggregator, connectivity and OMS system, XCore technology bridges hundreds of makers and takers, processing millions of trades in our four data centres: NY4, LD4, TY3 and SG1. XCore has the ability to extract significant tick and trade data, and provides to clients valuable reporting for their data-driven analytics, and we believe the Tradefeedr’s powerful data and analytics capability will be additive to the XCore Community. We are excited to work closely with Alexei and Tradefeedr team, as they deliver their sophisticated, data collaboration solution, already used by many e-FX Institutional participants that value standardised metrics and have innovative and transparent approach for their liquidity management.”
PrimeXM is now used by over 250 financial institutions and has reported over $1 trillion in monthly volume transacted over its network for the past 3 months. The company reported an average daily volume (ADV) in August 2021 of $48.42 billion in Spot FX transactions. In August, the company reported its first transactions in its new data centre in Singapore SG1.
Tradefeedr aims to level the trading analytics playing field by allowing the sell-side to submit trading data on behalf of their buy-side clients. With better-standardised data, Tradefeedr transforms the way in which market participants interact with each other and deliver new insights and better decision making for all users.
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