Market data connectivity specialist, MDX Technology (MDXT), today announced that ING Bank has gone live with its enterprise data sharing solution. Fixed Income traders in Amsterdam can now communicate more effectively with ING’s global institutional sales offices.
The MDXT Connect platform, a lightweight data sharing solution, subscribes to the house price from ING’s trading platform. The trading desk is then able to flexibly add critical pricing and analytics data required by the global sales teams to enhance the high levels of client services. Data is now communicated instantly between trading and sales with a far more efficient process in place. Historically, traders published the data to an external third-party data vendor, which the sales teams had to subscribe to. As a result the data does not leave the bank, internal communication is improved, infrastructure costs are reduced and ING clients are better served.
Marcus Welling, Head of Fixed Income Trading at ING Bank, said, “ING’s strategy is to deliver an excellent customer experience by offering appealing and transparent products and services, multiaccess distribution, and efficient and effective operations. MDX Technology has helped us work toward this goal. Our traders and sales people are now only limited by their own imagination. We are not as dependent on our internal IT department when we require new functionality. Moreover, with Microsoft Excel and MDXT Connect we can almost build anything.”
Paul Watmough, CEO at MDX Technology, said, “More than ever we come across scenarios within investment banks where a smaller number of traders need to collaborate with a growing team of institutional sales people to reach a broader customer base. Efficient data sharing then becomes a prerequisite.” ING is MDX Technology’s 12th European customer.