Tullett Prebon Information (TPI), a leading provider of independent real-time price information from the global OTC financial and commodity markets, has increased its presence in the corporate treasury market following a deal between TPI, market data vendor VWD and treasury management software provider Bellin.
The deal sees VWD provide clients of Bellin's TM5 treasury system - used for local cash management, payment processing, financial status reporting and local treasury requirements - with a unique and specialised set of market data, sourced from TPI, part of Tullett Prebon, one of the world's leading inter-dealer brokers. The data allows TM5 users to perform currency conversions and evaluations, comprising as it does of currency spot rates, reference rates from the European Central Bank, international IBOR and Euribor interest rates, and interest rate swap prices. Under the agreement, TPI will deliver the rates data on an end-of-day basis to VWD, who will then provide it to Bellin via an XML interface adapted to the TM5 system.
Commenting on the deal, Frank Desmond, managing director at Tullett Prebon Information, said: "This partnership underlines the growing demand we're seeing from corporate treasurers for a wider selection of independent market data, as treasury functions become ever more sophisticated. At the same time, the fallout from the LIBOR scandal has brought the importance of quality, reliable market data into focus, highlighting the commercial risks that bad data can pose to a business. Corporate treasurers looking to implement modern and robust risk management systems need to make the quality, reliability and independence of the underlying data a key priority."
Commenting further, Achim Beisswenger, vice executive director of international sales at VWD, said, "Treasury officials and companies are increasingly reliant on market data to perform ever-more-advanced treasury functions. This means they need to account for the minutiae of developments in capital markets, such as recent changes to benchmarks such as Euribor and LIBOR. Combined offerings such as this afford them a way to keep on top of this rapidly changing landscape and ensure that the data they rely on is accurate and of the highest standard."