dxFeed revenue grows by 45% on the back of “Lego” products, DeFi, and Index Management

Rick Steves

“Already in the first half of 2022, we’ll be happy to introduce to the market a new product designed for day traders.”

Aligning with the leading market data industry trends in analytical financial services, DeFi, and Index Management allowed the firm to boost its revenue by 45% during 2021, continuing the trend of annual double-digit growth totaling over 560% since 2016

dxFeed, the data solutions and index management provider subsidiary of Devexperts, has experienced double-digit growth in 2021, continuing a solid trend of total revenue growth of over 560% since January 2016.

Double-digit growth since 2016

Catering to both traditional and crypto markets, dxFeed saw a strong growth of 45% in 2021 on the back of three pillars, the firm said:

1) further development of analytical services based on high-quality market data;

2) moving into the DeFi world;

3) strengthening the firm’s position in the Index Management industry. 

Oleg Solodukhin, Chief Executive Officer of dxFeed, said: “We plan to continue developing our analytical services line. Already in the first half of 2022, we’ll be happy to introduce to the market a new product designed for day traders. They can use the product to search for investment opportunities and apply a variety of analytical tools to find their edge.”

Dmitrii Parilov, Managing Director of dxFeed, commented: “Our partners and we strongly believe in this industry’s rapid growth and development, which outpaces the traditional financial services markets by order of magnitude. To celebrate that we have staged an artistic NFT provocation at the Signature Art Basel VIP Networking Reception in Miami last December.”

dxFeed has increased the role of B2B and retail products, answering the market demand for quality analytics and analytical tools, which fueled its core business.

dxFeed turns to blocks, index management, and DeFi

The firm is, however, reinventing itself as more than “just a reliable vendor of high-quality market data”. dxFeed has become a provider of a variety of ready-to-use value-added services and products on top of it, which the firm calls “Lego-like construction blocks for customers’ systems”.

The second pillar for the 45% growth is Index Management, a business line launched in 2020 which already made an impression within the industry as index products with listed futures were launched for The Small Exchange, Miami Exchange, and Susquehanna International.

“While we plan to remain an Index Management provider of choice for our customers in 2022, we also plan to release our own family of indices, including alternative equity, commodity, volatility, OTC, DeFi/Crypto, FX Options, and Fixed Income indices,” added Oleg Solodukhin.

As to DeFi, the third pillar, is the novel business segment at dxFeed, which jumped into it last year and is already providing market data through its ChainLink node. The firm also partnered with API3 and SupraOracle.

dxFeed offers real-time and historical data on Crypto exchanges (CEX) and an expanded reach into Decentralized exchanges (DEX) as the firm keeps adding multiple onchain data to its portfolio, including quality pricing information from DEX.

In the meantime, dxFeed further grows its B2B2C (retail) partnership network, having integrated a number of retail platforms, including NinjaTrader, Medved Trader, MotiveWave, Easy Scalp, and others.

dxFeed will be targeting retail users with an upcoming terminal product that will focus on deep market research, traditional charting widgets with value-added premium services, and real-time exchange and OTC data.

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