360T, Digitec, Launch Precious Metals Data Feed
Posted by Colin Lambert. Last updated: December 6, 2022
Deutsche Börse’s 360T and Digitec have extended their partnership in the data space by launching a new precious metals data feed (PMF).
The new service leverages the same technology as Digitec’s Swaps Data Feed (SDF) to provide a live streaming rate reasonability curve derived from banks’ core pricing engines. It provides pricing from overnight to two years and, the firms say, because the data is coming from a curated group of banks, the feed “captures rare market intelligence that is not available anywhere else in the market today”.
The new service can be accessed via Fix-API, view-only Web GUI, within the 360T trading solution or via Digitec’s D3 pricing engine and will commence with XAU/USD and XAG/USD.
“Just as the SDF has been a game-changer in the FX swaps market, the PMF is a truly unique product which could have a transformative effect on precious metals trading by shining a light on what was previously an opaque marketplace,” says Simon Jones, chief growth officer at 360T. “This new data feed was developed in close consultation with our partners in the FX industry, who wanted a tool to help support price discovery, benchmarking of trades, conducting execution analysis and developing trading strategies for precious metals alongside their existing currency trading.”
Marco Kuper, chief product officer at Digitec, adds, “Building on the success of the SDF and the transparency it has brought to the FX Swaps market, we have further leveraged Digitec’s D3 multi-asset pricing engine to also power the PMF. By working in partnership with 360T we have increased transparency and efficiency in both the FX swaps and precious metals markets.”