Icap Information Services (IIS), the information division of ICAP Plc (IAP.L), and CME Group, the world's leading and most diverse derivatives marketplace, have partnered with The Beast Apps Group to create and deliver RapidRV, a real-time market data and analytics tool designed to provide market participants with the capability to analyze relative value opportunities between the Over-The-Counter (OTC) and exchange-based futures markets.
"We're very happy to be partnering with CME Group and The Beast Apps Group to provide these real-time products and services for the futures and OTC markets," said Michael Kirby, IIS Americas Director. "As a leading OTC marketplace and data provider, ICAP is ideally situated to offer clients a unique view into the most liquid OTC products."
RapidRV is built on The Beast Apps platform, a high speed market data delivery tool and analytics engine. Users can view live streaming futures prices from CME Group alongside OTC derivatives and US Treasury securities pricing from ICAP Information Services' GovPX and SwapPX products. This combination enables users to better analyze the behavior and relative value opportunities between the OTC and futures markets.
"CME Group is pleased to partner with ICAP and The Beast Apps to bring our customers this innovative analytics tool," said Sean Tully, CME Group Senior Managing Director of Financial and OTC Products. "We're always looking at new ways to improve upon our customer experience and make our highly liquid futures markets more efficient and accessible for all types of participants."
RapidRV includes real-time displays and calculators to view market data, relative values and hedge ratios between various OTC markets and CME Group futures contracts. The product displays and continually calculates opportunities between futures (CBOT Deliverable Swap Futures, CME Eurodollar Futures and CBOT US Treasury Futures) contracts and OTC products (Interest Rate Swaps and US Treasuries). The product also displays hedge ratios for multiple hedging strategies in addition to real time calculation of the "cheapest to deliver" Treasury security for CBOT Treasury Futures.
"The Beast Apps brings its unique package of cloud-based delivery and unprecedented speed to the RapidRV product," said Vinayek Singh, CEO of The Beast Apps. "All the analytics are fast, but the ability to deliver the complex Swaption vol/premiuium matrix in real time showcases that speed across all devices. Shown for the first time here, we offer collaboration between RapidRV users of applications in real time which takes peer-to-peer communication to a new level."
The service is available as a monthly subscription which includes market data fees from ICAP and CBOT exchange fees. Start your free trial today.