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DIGITEC has launched D3 DataHub, a managed market data distribution platform, with the service currently in a live pilot with four global FX trading banks.
The platform is designed to simplify and modernise market data connectivity. D3 DataHub standardises provider-specific feeds and delivers market data using DIGITEC's established D3 FIX protocol, built on what the firm describes as a resilient and scalable architecture. This is aimed at improving the speed of onboarding to new data sources, while providing clients with a managed service that includes monitoring, redundancy and operational support.
D3 DataHub enables clients to access data from 24X, LMAX Group, New Change FX and SGX FX, as well as Swaps Data Feed (SDF), developed by DIGITEC and 360T. DIGITEC has said more data providers will be added in future.
Marco Kuper, CPO, DIGITEC
Marco Kuper, CPO, DIGITEC said:
"Historically, banks and Financial Institutions built and maintained separate integrations for each market data provider, resulting in increased implementation costs, longer onboarding times and ongoing operational complexity. D3 DataHub addresses this challenge, reducing the burden of onboarding by providing connectivity through a single, standardised layer that enables clients to connect once to access multiple market data providers through a common interface."
Radhika Bindiganavile, Product Manager for Market Data, DIGITEC
Radhika Bindiganavile, Product Manager for Market Data, DIGITEC said:
"Purpose-built for FX trading desks, D3 DataHub is already in use at four top tier FX banks. It provides scalable architecture as clients add more data sources and is designed to integrate with our D3 Pricing engine and other downstream applications."
The launch follows the introduction of D3 Channels in April this year, which enhances and automates FX Swaps pricing workflows for Liquidity Providers.
DIGITEC provides multi-asset technology and data, and is recognised as the market leader in FX Swaps and NDF technology. Its global client base includes more than 50% of the Euromoney Top 50 FX trading firms. The firm's services include D3 Pricing, D3 OMS, D3 DataHub, and Swaps Data Feed (SDF) and Precious Metals Data Feed (PMF), developed in partnership with 360T.
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