Frankfurt and Hamburg 05 June 2023 – 360T and DIGITEC picked up three awards at the 2023 Inside Market Data & Inside Reference Data Awards, with the Precious Metals Data Feed (PMF) product being named as the Best Market Data Newcomer and Best Reference Data Newcomer and the Swaps Data Feed (SDF) being lauded as the Best Reference Data Initiative.
Developed jointly by 360T and DIGITEC, the SDF is unique because it is directly integrated into the core pricing engines of over 20 top FX banks. It offers granularity across the curve from O/N out to two years in over 40 currency pairs (including key broken and central bank dates), providing real-time market data in an unlimited number of crosses in G10, LM and non-deliverable (NDF) currency pairs.
The SDF has a range of practical uses within FX trading technology stacks – 360T currently utilises its power for mid-rate matching in its Swaps User Network (SUN) platform and has integrated it into its Execution Management System (EMS) where it can function as a tolerance check to enable the automated execution of trades within a pre-defined distance of the market midpoint.
The PMF, which was launched by 360T and DIGITEC last year, leverages the same technology and design as the SDF, providing a live streaming rate curve which is derived from banks’ core pricing engines. Providing streaming data across the curve in tenors from O/N up to two years, the PMF consolidates these multiple bank curves into one aggregated market view.
“We are delighted to have won these awards,” said Simon Jones, Chief Growth Officer at 360T. “What makes the SDF and PMF such valuable products to our clients, and the reason why we’ve seen such strong adoption of both, is because they capture rare market intelligence and offer highly accurate insights into previously opaque marketplaces”.
“We are very happy that the SDF and PMF continue to be recognised by the industry,” said Peer Joost, CEO of DIGITEC. “The SDF and PMF increase market transparency, enabling buy-side clients to achieve and prove Best Execution, and sell-side firms to make prices to their clients, with increased accuracy and efficiency. Increased transparency leads to better pricing, which we expect will drive growth in both of these markets.”
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 2,400 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
360T media contact:
Sarah Brylewski
+49 69 900 289 369
About DIGITEC
DIGITEC is the company behind the world-leading FX, Money Market, Interest Rates and Precious Metals pricing engine D3. More than 50% of the Euromoney Top 50 FX firms use DIGITEC, running the software on a 24h basis in different trading centres globally. DIGITEC also offers Swaps Data Feed (SDF) and Precious Metals Data Feed (PMF), developed in partnership with 360T. The company is headquartered in Hamburg, Germany with another office in London. www.digitec.de