Tradefeedr teams up with PrimeXM to offer FX analytics to XCore platform
FX data and analytics provider Tradefeedr has partnered with Swiss-founded technology company PrimeXM to deliver its data analytics to users of XCore platform.
The new accord will further promote Tradefeedr‘s offering, which already counts major institutions such as Goldman Sachs, UBS and XTX Markets among its subscribers, as part of an ongoing expansion.
Founded in 2018 by two former hedge fund managers, Tradefeedr caters to various market participants – the sell side, buy side, regional banks, hedge funds, brokers and central banks – seeking data-driven decision making. It uses data science to aggregate, analyse and consolidate the FX trading information into a global database by allowing liquidity providers to submit data on behalf of buy-side clients.
Among other things, the platform’s users are able to pool algo runs across several sources and share analysis with their counterparties for more accurate performance statistics and transparency.
Tradefeedr has undergone a series of partnerships over the last two months, designed to grow its business and market penetration. The startup says it has 15 leading sell-side and 20 major buy side firms already signed up to its service while another 20 will be onboarded over the coming months as it aims to build an industry-wide data utility.
“The partnership with Prime XM is a natural fit for Tradefeedr given the seamless integration with XCore tech, providing trading and market access to their institutional clients. We are excited to be working with the PrimeXM team sharing a similar ethos of value-add technology solutions to clients who are looking for advanced trading data management,” said Tradefeedr Co-Founder Alexei Jiltsov.
In this latest deal, PrimeXM will look to explore mutually beneficial connectivity solutions for the institutional space. As an independent data integrator, Tradefeedr caters not only to retail venues, but prime of prime brokerages and hedge funds too.
Founded in 2010, PrimeXM’s key business focus is providing aggregation software, low-latency connectivity, hosting solutions, and high-end MT4/MT5 bridging and white labels. The Swiss-based technology company also offers a MetaTrader 5 Gateway low-latency connectivity to over 120 providers of forex and CFD liquidity.
In addition to their primary product XCore, PrimeXM offers hosting services in the most popular data centers used by the FX industry, such as Equinix LD4, NY4, and TY3, which enables clients to house their trading systems and algos in co-location to their execution engine and liquidity providers.
The company’s flagship platform, XCore, offers low latency order routing and pricing engine, giving the institutions the opportunity to connect to a wide range of liquidity providers. Furthermore, XCore is installed in PrimeXM’s infrastructure in Equinix data centers, allowing for the efficient management of the entire brokerage business in a centralized environment.
Commenting on the recent partnership, PrimeXM COO, Galin Georgiev said: “XCore has the ability to extract significant tick and trade data, and provides to clients valuable reporting for their data-driven analytics, and we believe the Tradefeedr’s powerful data and analytics capability will be additive to the XCore Community. We are excited to work closely with Alexei and Tradefeedr team, as they deliver their sophisticated, data collaboration solution, already used by many e-FX Institutional participants that value standardized metrics and have innovative and transparent approach for their liquidity management.”