New York-based interdealer broker and market data vendor GFI Group is implementing Mighter Gissing's multi-vendor data contribution system, Contex, to distribute its prices to external market data vendors.
GFI will use the Contex system to distribute prices from its brokers to its trading customers via multiple market data vendors.
The initial phase of the implementation includes the installation of Contex servers in both London and New York, contributing data on fixed income and interest rate derivative products.
Mighter Gissing will provide an interface to GFI's data feed distribution system which delivers information to end users as well as page-based market data feeds. GFI will also interface its price broadcast system with ConteX for onward distribution to vendors.
The vendor says GFI chose the Contex platform due to the ease with which contributions to new instruments could be added, the packaging of data for specific vendors and the ability to monitor contributions across the whole firm to ensure the integrity and quality of data.
GFI says the software, together with its current trading systems and internal price dissemination infrastructure, is part of its initiative to provide its broker desks with multi-entry and real-time price distribution capabilities.