Financial Machineries, a leading Risk and Quantitative Analytics provider, has announced the acquisition of Data Contributions, a data management and advisory consultancy specializing in OTC pricing and regulatory publishing controls. Terms of the deal were not disclosed.
Financial Machineries is launching its new "GTR Analytics" (GTRA) data product which provides cleansed and aggregated data from all accredited global data repositories (GTRs) authorised under Dodd Frank in the US and EMIR across Europe. The GTRs include the DTCC's DDR (both US and European), KDPW, Regis-TR, UnaVista, CME Europe and ICE Vault. The data is available in web & Microsoft Excel formats, with bespoke reporting functionality. Searchable historical data, from December 2012 when Dodd Frank was implemented is also available. The service will also include GTRFIX and offer 3 IRS fixings per day for USD, EUR, GBP and YEN currency curves, providing an alternative to ISDAFix.
Antonio Castagna, CEO of Financial Machineries said "By aggregating all GTR post-trade price sources, we have created the first real-time actual traded price datafeed. We have met the challenges of matching and classifying all reported trades, providing our clients with increased transparency across Interest Rate Swaps, FX, Credit and Commodities in markets impacted by the new legislation. We have acquired Data Contributions to establish a global sales presence and are looking forward to working with the management team in delivering GTR Analytics and GTRFIX to buy and sell-side financial institutions.
Sheena Clark, CEO of Data Contributions added: "Since 2008, we have witnessed the most remarkable change in the OTC data space. The launch of the GTRA and GTRFIX services will bring greater transparency to the market, by providing actual traded rates and volume size in real-time. This new service will aid price discovery and risk management as well as delivering real valuations to the back office. I am really excited about the new opportunities presented by the combination of Financial Machineries and Data Contributions. Together, we will grow our actual traded data products to enable us to deliver more accurate and timely data analytics.
Financial Machineries has s been created by financial market practitioners, quantitative analysts and programmers with over 200 man-years experience developing and creating trading strategies and dealing room technologies. It offers a unique blend of skills and expertise in the understanding of financial markets and the pricing of complex financial instruments and strives to create new solutions by balancing rigour and efficiency.