ICAP, CME Group partner with The Beast Apps over market data solution

ICAP Information Services (IIS), the information subsidiary of ICAP Plc (LON:IAP), and global derivatives marketplace CME Group Inc (NASDAQ:CME) today announced a partnership with The Beast Apps Group.

The focus of the collaboration is RapidRV, a real-time market data and analytics tool, aimed at providing market participants the capability to analyze relative value opportunities between the Over-The-Counter (OTC) and exchange-based futures markets.

RapidRV is built on The Beast Apps platform, a high speed market data delivery tool and analytics engine. Users of the product can view live streaming futures prices from CME Group alongside OTC derivatives and US Treasury securities pricing from ICAP Information Services’ GovPX and SwapPX products. This combination allows users to better analyze the behavior and relative value opportunities between the OTC and futures markets.

RapidRV is a multi-facet tool which amid everything else includes real-time displays and calculators to view market data, relative values and hedge ratios between various OTC markets and CME Group futures contracts. The product displays and continually calculates opportunities between futures (CBOT Deliverable Swap Futures, CME Eurodollar Futures and CBOT US Treasury Futures) contracts and OTC products (Interest Rate Swaps and US Treasuries). In addition, the tool displays hedge ratios for multiple hedging strategies in addition to real time calculation of the “cheapest to deliver” Treasury security for CBOT Treasury Futures.

The new service is available in exchange for a monthly subscription fee which includes market data fees from ICAP and CBOT exchange fees.

Commenting on the partnership, IIS Americas Director Michael Kirby said: “We’re very happy to be partnering with CME Group and The Beast Apps Group to provide these real-time products and services for the futures and OTC markets. As a leading OTC marketplace and data provider, ICAP is ideally situated to offer clients a unique view into the most liquid OTC products.”

Sean Tully, CME Group Senior Managing Director of Financial and OTC Products, noted: “CME Group is pleased to partner with ICAP and The Beast Apps to bring our customers this innovative analytics tool. We’re always looking at new ways to improve upon our customer experience and make our highly liquid futures markets more efficient and accessible for all types of participants.”

“The Beast Apps brings its unique package of cloud-based delivery and unprecedented speed to the RapidRV product,” added Vinayek Singh, CEO of The Beast Apps. “All the analytics are fast, but the ability to deliver the complex Swaption vol/premium matrix in real time showcases that speed across all devices. Shown for the first time here, we offer collaboration between RapidRV users of applications in real time which takes peer-to-peer communication to a new level.”

To view the official announcement, click here.

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