TickSmith powers CanDeal’s DataVault Innovations
TickSmith will power the new market data platform for institutional electronic marketplace for Canadian debt and derivatives trading CanDeal, reports David Penn at Finovate.
The company will use the TickSmith Data Pooling Platform in order to support the launch of its DataVault Innovations Data-as-a-Service (DaaS) offering.
DataVault Innovations aggregates over-the-counter (OTC) data on multiple Canadian assets classes from banks and other sources and distributes it to end users and third-party providers. The DaaS technology also provides pricing, risk, and analytics features to help market participants bolster internal risk modelling and remain compliant with relevant regulations.
“TickSmith provides the well-tuned engine that DataVault Innovations needs for peak performance,” says head of DataVault Innovations Andre Craig. “As an industry service, DataVault Innovations will not only provide the premium data to fuel more impactful product development; it will lead to more reliable benchmarks, expanded access to quality OTC data, and vastly improved risk management and regulatory compliance for FRTB and other mandates.”
Francis Wenzel, TickSmith CEO, highlights CanDeal’s consolidation of OTC multi-asset class data: “We’re confident that we can deliver and unmatched service to DataVault Innovations, that will be robust enough to support an array of data, services, and clients for years to come.”
Recently, the Montreal, Quebec, Canada-based company introduced its transaction cost analysis (TCA) solution, and announced a partnership with trading and market access technology provider Vela. TickSmith began the year with news that it had achieved Amazon Web Services (AWS) Financial Services Competency status.