Hamburg & London – December 06, 2022 – DIGITEC and 360T have launched the new Precious Metals Data Feed (PMF), bringing transparency to the Precious Metals marketplace.
Leveraging the same technology and design underpinning the award-winning Swaps Data Feed (SDF), which was also jointly developed by DIGITEC and 360T, the PMF provides a live streaming rate reasonability curve which is derived from banks’ core pricing engines.
Providing streaming data across the curve in tenors from ON up to 2Y, the PMF consolidates these multiple bank curves in one aggregated market view. Because the data is coming directly from a carefully curated group of market making banks, the PMF captures rare market intelligence that is not available anywhere else in the market today.
It can be accessed via FIX-API, view only web GUI, within the 360T trading solution or via DIGITEC’s D3 Pricing engine. The currencies included in the PMF at launch are XAU/USD and XAG/USD.
“Building on the success of the SDF and the transparency it has brought to the FX Swaps market, we have further leveraged DIGITEC’s D3 multi-asset pricing engine to also power the PMF,” says Marco Kuper, CPO at DIGITEC. “By working in partnership with 360T we have increased transparency and efficiency in both the FX Swaps and Precious Metals markets.”
“Just as the SDF has been a game-changer in the FX Swaps market, the PMF is a truly unique product which could have a transformative effect on precious metals trading by shining a light on what was previously an opaque marketplace. This new data feed was developed in close consultation with our partners in the FX industry, who wanted a tool to help support price discovery, benchmarking of trades, conducting execution analysis and developing trading strategies for precious metals alongside their existing currency trading,” says Simon Jones, Chief Growth Officer at 360T.
DIGITEC is a market-leading software provider of eFX pricing solutions. 45+ clients, from tier 1 global banks to local and regional trading firms, already trust in DIGITEC’s D3 technology for their Forward, Swaps, and Money Market pricing. With their pricing engine, clients can import market data to build G10, LM and NDF core prices and distribute them to downstream systems / e-commerce platforms such as 360T’s ADS. D3 is the power house behind the SDF and PMF, where the contributors’ data is sourced, aggregated, anonymised and sanitised.
Combining D3’s fully scalable SaaS solution with the SDF and PMF, both products become even more powerful as FX banks of any size have the technology to become competitive market makers. For more information: please visit www.digitec.de
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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 2,300 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