360T and DIGITEC have been named as the Best Reference Data Newcomer for their Swaps Data Feed (SDF) product at the Inside Market Data (IMD) and Inside Reference Data (IRD) Awards.
Hosted by Waters Technology, these prestigious awards recognise excellence within market data, reference data and enterprise data management across the entire financial services industry. The award winners were determined by a panel of expert judges who analysed the detailed submissions required for each entry.
The SDF, created in joint partnership between 360T and DIGITEC, is a truly unique product which offers full granularity across the curve from O/N out to five years in over 40 pairs, providing real-time swaps market data in 1,800 crosses in G10, LM and NDF currency pairs.
Despite being a relatively new product for the FX industry, the SDF has seen rapid growth in both the number of firms contributing to the feed and consuming it. As a result, this product has brought transparency to the previously opaque $3.2 trillion per day FX Swaps market, helping buy-side firms to both achieve and prove best execution and sell-side firms to more effectively price trades outside of their core currencies.
Indeed, the SDF has proven so popular that in the last year 360T and DIGITEC launched a new GUI for the product. Previously only available via FIX API or within the 360T ecosystem, now firms are able to consume the SDF as an easy-to-access online service. This has allowed a much broader swathe of the FX market to access high quality, accurate FX Swaps data so that they can have a better understanding of the market on a pre-trade basis at a very low cost.
“We are honoured to have won this award and delighted that our SDF product is receiving the recognition that it deserves. In a marketplace increasingly awash with data we are proud to have developed a differentiated suite of data products which are today delivering tangible and quantifiable benefits to a broad range of FX market participants. This is the second major industry award that 360T has won in the past year for our market data suite, showing that we have real momentum behind this business now, despite being relative newcomers to this space,” says Simon Jones, Chief Growth Officer 360T Group.
Peer Joost, COO at DIGITEC, comments: “It is fantastic to see that our joint 360T and DIGITEC market data product, the SDF, continues to be recognised by the industry. This reflects the product’s relevance in the market data space and has led to record growth in its usage over the last two years. Going forward, 360T and DIGITEC have ambitious plans to continue on this journey and to provide market-leading FX swaps market data to an even broader spectrum of clients.”
About 360T Group
360T is one of the globally leading trading platforms for Foreign Exchange (FX). As Deutsche Börse Group’s powerhouse for FX, 360T provides a web-based trading technology for over-the-counter (OTC) instruments, integration solutions and related services. Since its inception in 2000, the company has developed and maintained a state-of-the-art multi-bank portal for foreign exchange, cash and money market products and FX/interest rate derivatives. With over 2,200 buy-side customers and more than 200 liquidity providers across 75 different countries, 360T is uniquely positioned to connect the global FX industry.
Headquartered in Frankfurt am Main, Germany, 360T maintains subsidiaries in New York (360 Trading Networks Inc), Singapore (360T Asia Pacific Pte. Ltd.), Mumbai (ThreeSixty Trading Networks (India) Pvt Ltd), Kuala Lumpur (360 Trading Networks Sdn Bhd) and Dubai (360 Trading Networks (DIFC) Limited).
Further information: www.360t.com
DIGITEC is the industry-leading software provider of FX core pricing solutions. More than forty banks already trust in the DIGITEC D3 technology for their Forward, Swaps, NDF, and Money Market core pricing. On the basis of the D3 core pricing system, DIGITEC and 360T have in partnership developed their own, award-winning market data offering, the 360T/DIGITEC ‘Swaps Data Feed’ (SDF).
Further information: www.digitec.de
DIGITEC media contact: Jake Smith +44 7860 779 802 firstname.lastname@example.org