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  • Press Releases
  • Tuesday 12th November 2019

Codel joins the MDXT rapidly expanding partner community

Enabling immutable market data providence capabilities

Streamlined, single access to both content and new products or services

MDX Technology today welcomes Codel into their rapidly expanding partner community. Codel’s CODELMARK provides an immutable audit trail, together with a series of applications which enables users to protect and control data and to prove integrity and validity. The MDXT collaborative partner ecosystem brings together content creators, content consumers and innovative technology partners into one place. Now, it will not only enable users to find new or specialist content sources, it also provides them with unique, single access to a hand-picked range of highly complementary products and services which could deliver significant value to their business.

Paul Watmough, MDXT commented. “These days it’s all about demonstrating immutable market data providence at source. This is particularly relevant for those operating in highly regulated global markets where price and reference data scrutiny in terms of its ownership and origins is increasingly coming under the regulatory spotlight. One sector where Codel has massive potential, is in the world of OTC products where there are often multiple sources for the same instrument. By removing the vagaries and origins of a price as to “from where and from whom” would provide peace of mind for everyone involved. This would allow firms to transact business with confidence, safe in the knowledge they are using validated content which could stand up to the rigours of any investigation initiated by the regulators or any other third party. Putting IP ownership rights to one side, we believe examining the up and downstream benefits of validating a content owner’s CODELMARK as part of the management of the trade life-cycle is well worth exploring.”

James Zorab founder and CEO of Codel continued. “We are delighted to be collaborating with MDXT to take advantage of this innovative new channel to market. The seemingly never ending compliance burden has made many organisations reassess how they control and manage the exploding volumes of content they own or purchase. Irrespective of whether it is market or reference data, spreadsheets, images, video, music or any other digital records, our comprehensive suite of offerings provides much needed data certainty. Adoption is growing apace for the CODELMARK digital fingerprinting service which is being used in financial service to prove compliance with GDPR and to provide immutable audit trails. Being able to validate ownership of content and intellectual property is a one of today’s imperatives. Codel has recently partnered with New Change Foreign Exchange to create Codelmarked snapshots of their ESMA approved benchmark rate used widely by both buy and sell side.”

Paul concluded. “Our goal is to position MDXT as an invaluable industry resource which provides a new independent channel for both content creators and consumers enabling them to access new content and/or independently evaluate value added products or services which could potentially enhance their overall business operations. Whilst we do not formally endorse any of the products we are showcasing, as it is up to each interested party to undertake their own due diligence, we believe Codel’s offering and others we are working on, are perfect examples of the power of the MDXT community in action. This is the first in a series of new announcements of this type, so watch this space.”

MDXT’s market leading technology and provides a single and highly accessible destination for specialist market datasets. It enables all content creators and content consumers to meet and transact business using flexible, multi-channel subscriptions models not previously available. The technology is already proven within the global financial marketplace and is used across the entire asset class spectrum, from front to back-office including energy and fixed income.