Interactive Data Corporation today announced an agreement with BGC Partners, Inc. to provide BGC's globally available Over-the-Counter (OTC) asset class data via its Consolidated Feed and through the 7ticks network.
Participants in the OTC markets are faced with increasing regulatory demands that are driving the need for enhanced transparency and market prices. Through this agreement clients will now have access to an expanded universe of related data to help support their front, middle and back office operations. BGC Partners OTC pricing and data content primarily consists of "executable" or "tradable prices", sourced directly from its global electronic platform and voice-hybrid broking operations.
In particular, BGC Partners' Global FX options, non-deliverable forwards (NDFs), interest rate options (IROs), Euro interest rate swaps (IRS) and emerging markets data will offer Interactive Data's clients enhanced content sets designed to support both their OTC trading and reporting requirements.
"BGC Partners' technological capabilities and wide range of OTC trading data are important to the global electronic trading community, and providing our clients with access to this data underscores our commitment to offering comprehensive data and connectivity options to our clients," said Emmanuel Doe, President, Trading Solutions Group for Interactive Data. "We continue to invest and build out our specialist data content coverage and enhance the methods through which that content is delivered. In BGC we are working with an industry leader as part of this ongoing program to provide expanded OTC data and flexible enterprise data distribution capabilities."
BGC's direct high-speed OTC market data feed will also be accessible through Interactive Data's 7ticks network that delivers global connectivity services for the electronic trading community. More than 180 clients globally, including leading hedge funds, independent software vendors, futures commission merchants, investment banks, proprietary trading firms and exchanges, utilize the 7ticks network, which provides access to the Interactive Data Consolidated Feed.
"BGC Partners continues to work with clients and distribution partners on providing flexible access to our high-speed direct OTC data and pricing feed," said Mark Benfield, Executive Managing Director and Global Head of BGC Partners' Market Data Group. "Our collaboration with Interactive Data supports the BGC Partners direct enablement model, allowing clients to source BGC pricing data in the manner that best supports their business needs."