Swiss interdealer broker Compagnie Financière Tradition (SWX:CFT) announced that it has launched its newly-revamped market data and information services division, TraditionDATA. TraditionDATA starts with a completely new executive management team behind it.
The division offers flexible data packages tailored to individual requirements, ensuring clients only pay for the specific data they need. This is in contrast to the majority of data vendors that require customers to buy data packages with vast quantities of information that they do not need or do not know how best to utilise. It also avoids the complex process of unbundling, analysing and extracting valuable data points.
TraditionDATA also announced the launch of INTEGRATE, a proprietary in-house market data delivery channel. It is designed for clients that prefer to purchase data directly from Tradition, rather than through their accredited third-party providers. INTEGRATE offers access to granular, real-time, end-of-day and historical data tailored to suit individual trading strategies.
Scott Fitzpatrick, Head of TraditionDATA, comments:
The pricing and consumption models for market data have largely remained the same for the last decade and is no longer fit for purpose. Our goal is to make our data easy to buy and available in a way that is efficient for consumption. That’s why we created a flexible, modular data model that reflects the evolving market need, the ever-changing regulatory landscape and addresses the cost pressures faced by many customers.
We have made excellent progress in building our global team and growing the business over the last 12 months, and will continue to add people and resources where we need them. We have an exciting pipeline of new products coming to market soon which we will continue to deliver to clients in a way that best suits their data consumption requirements.
The days of large, pre-bundled and expensive data packages are coming to an end. I believe that our global coverage, granularity and depth of data, coupled with the ability to buy tailored data packages, offers much-need choice.
Tradition has also successfully raised CHF 105 million on the Swiss capital market through the placement of a straight bond last Friday.
This new issuance, with a maturity of 6 years to July 2025 and carrying a coupon of 1.75 %, was achieved under the lead management of Credit Suisse and Zürcher Kantonalbank.