Market data plays a key role in multi-asset execution desks, but market fragmentation and data standardization continue to create challenges for the industry. Speaking to Trader TV at Trade Tech FX in Miami, Daniel Murillo, US sales manager for data and analytics, and Julia Bahr, head of business development and sales at Deutsche Börse’s Market Data and Services division, discuss data challenges in FX, the growing role of unified analytics to identify market sentiment, and the latest developments to improve data aggregation and delivery.
Interview
Yulia Kuksina – So Daniel, let me start with you. Tell us a little bit about Deutsche Börse markets data and services division within the Deutsche Börse Group.
Daniel Murillo – For sure, so Deutsche Börse is the parent company of 360T, so a lot of the attendees are asking, you know, what brings Deutsche Börse to a conference like this, and we act as the market data layer for the different venues and exchanges that we work with. So that’s 360T, that’s Eurex, that’s Xetra, just to name a few of the most popular ones. And in terms of our business, what we do is we provide data from those exchanges historically. So it’s to deliver T+1. But what it does is it really allows our clients to understand how the markets are moving a little bit better. Allows them to, you know, observe market sentiment. It allows them to see whether or not different market participants how they’re moving and how they’re interacting with each other. So not only from an FX standpoint, but just overall, looking at the market, it’s important for us to be at conferences like this, because we have FX data 360T, but there’s a lot more that we do.
Yulia Kuksina – What do you think was the growth of your company over the past few months, and also, what are the key initiatives going forward?
Daniel Murillo – Sure, so I wouldn’t say, over the past three years, the MDNS group, specifically, market data services, has grown significantly, both in the US and in Europe. Part of the reason for that specifically is really just our quantitative research team, building these analytics and products, taking them from our exchanges that we work with now, building them, aggregating them, and commercializing them in a way that allows us to go back to the market with a compelling message. So, new product, I would say, we’re not a new name, but in the US, we’re expanding significantly, and that’s why we’re at this conference, branding, growth, awareness.
Yulia Kuksina – Great appreciate that it. Now, I just wanted to talk to Julia. So Julia I know you are an FX expert, and this conference is all about FX. So could you tell us about the FX challenges for the market and how market data and services are helping to solve for those challenges?
Julia Bahr – So there are different challenges in the market. One challenge is the fragmentation in the market. Another challenge is to get access to truly granular data, especially for FX swaps, for example. And we are a leading provider for this kind of data, so we are not providing data only for OTC (over the counter) FX but we are also providing data for exchange-traded derivatives, like from Eurex or from Bolsa Mexicana, and on the OTC side, we do also provide 360T data to our clients. The challenges are that we try to be as flexible in the way how we deliver the data, so we can provide the data via data feeds to clients who are extremely latency sensitive. We have API (application programming interface) access to our data. We are providing data access via blockchain, which is pretty new, and then we also connect data providers like Bloomberg to get access to the data so.
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