MDX, a leading supplier of data distribution technology to the trading community announces a new corporate initiative targeting trading venues, Swap Execution Facilities (SEFs) and stock exchanges globally. This program has been created to satisfy the requirements of the many firms who have approached MDX to assist in revolutionising their existing market data distribution capabilities and to further leverage MDX’s now recognised “Excel expertise”.
Following the successful launch of the MDX data distribution platform back in 2015, the company has been in discussions with numerous trading organisations who have all been expressing very similar desires. In the main, these conversations have been about how to satisfy the needs of increasingly more demanding customers who are looking for speed, flexibility of distribution and efficient access to data, and to address the most pressing requirement of the moment, which is to drive down costs across the board, without compromising quality service capabilities.
Paul Watmough, CEO and Co-Founder at MDX explains, “Today’s data creators (trading venues, SEFs and exchanges as well as trading desks, interdealer brokers, etc.) are no longer satisfied with the status quo in terms of data distribution. They want more. More in terms of efficient, high speed access to ‘new world’ data distribution solutions, delivered at a much more attractive price point. Data consumers, for instance the dealer community of a trading venue or SEF, also want more, in terms of significantly improved access to real-time market data (where previously they might have received start/end of day snapshots via CSV files), all delivered in an easily consumable format, typically into Microsoft Excel or via an API into an application. This is where the MDX data distribution platform really comes into its own.”
Richard Gissing, CTO and Co-Founder continues, “Our approach is very different from our competitors. Unlike many legacy data distribution platforms, MDX is rapidly deployable, on premises or in the cloud, minimising the total cost of ownership and maximising speed to market for a client’s data. Our proven solutions are already well known for providing secure distribution of data to customers, in either Excel or through our simple API, across multiple sites and to remote workers, empowering far greater customer collaboration capabilities than previously available. MDX is already enabling consumers to take data either directly from the trading venue, SEF or stock exchange rather than via data vendors which helps to deliver the speed, flexibility and at the same time satisfies the desire for the much needed cost reductions they are all under pressure to achieve.”