Source: OTC Global Holdings
OTC Global Holdings LP (OTCGH), the leading independent interdealer broker in over-the-counter commodities, formally announced today the availability of instant, on-demand over-the-counter market data for natural gas and crude products from CME Group.
The first of its kind, intraday data leverages OTCGH's breadth of brokerages and is sourced from the company's EOXLive broking/trading platform, which is well-known in the commodities sector for its ability to combine the convenience of electronic trading with voice broking's unique ability to provide market color and create bespoke transactions.
OTCGH is the first interdealer broker to work with CME Group to disseminate intraday levels on its brokered products, which are designed for front office traders seeking price discovery and by middle and back office risk managers around the globe seeking internal price validation and highly accurate mark-to-market results.
"Being the first interdealer broker to collaborate with CME Group to make its market data available is another example of OTC Global Holdings' commitment to increasing transparency in the over-the-counter markets," said Javier Loya, OTCGH Chairman and CEO. "While the Dodd-Frank implementing regulations are still a work in progress, we are continuing to take every step possible to ensure we will be compliant when they go into effect."
"CME Group continues to look for innovative ways to meet the growing needs of our customers who rely on our market data to make business decisions," says Brian McElligott, Managing Director of Global Market Data for CME Group. "Working with OTC Global and EOXLive will help the market benefit from unprecedented access to premium over-the-counter (OTC) Energy data over CME Group's global distribution network and widely utilized licensing framework."
CME DataCloud is a recently launched on-demand platform which helps developers build applications in less time and for a lesser cost than traditional technologies. Financial market data is uniquely suited to the cloud and total cost of ownership can be reduced by eliminating infrastructure costs and paying only for the data needed. By lowering the cost and complexity of integrating OTC derivative prices, CME DataCloud is helping firms to increase transparency and reduce risk.
Cleansed by EOXLive and anonymized through the removal of confidential counterparty details and trade size, the data is directly linked to the CME DataCloud platform for on-demand distribution alongside CME Group's listed products. CME DataCloud provides flexible, scalable and affordable options so that both vendors and customers can access OTCGH's market data for natural gas and crude products without any software requirements via the web at www.cmedatacloud.com.
The OTCGH intraday trade and quote product joins end-of-day forward curve reports for natural gas basis and natural gas implied volatilities in a growing suite of data tools now offered by the company. Both end-of-day forward curve products are available exclusively from EOX, a wholly owned subsidiary of OTCGH, via their website at www.eoxlive.com.
OTCGH plans to work with CME Group to expand its intraday market data offerings outside of natural gas and crude in the coming months based on interest and need; in addition to directly offering forward and implied volatility curves for power before the end of the year.