Tradefeedr, a community-based FX trading database founded by Balraj Bassi and Alexei Jiltsov, has launched its FX platform rolling out to over 15 leading sell-side and more than 20 major buy-side firms, with another 20 in the pipeline.
Designed to provide unique clarity, insight, efficiency, and better relationships for the foreign exchange trading ecosystem, the platform allows market participants to work together.
Tradefeedr has recently appointed ex-NEX Group CEO Seth Johnson as Chair in December 2020 and raised $3 million from ICAP/NEX Group founder Lord Michael Spencer’s IPGL to propel the business to the next stage of growth.
Tradefeedr offers a common FX trading database for the whole trading industry – sell-side, buy-side, regional banks, hedge funds, brokers, and central banks – to connect, analyze their trading data and collaborate.
Seth Johnson, Chairman of Tradefeedr said: “We are delighted by the overwhelmingly positive response from major FX participants who have now joined the Tradefeedr community.
“This demonstrates that there is a real need in foreign exchange to trade using correct and standardised data, allowing faster and more accurate flows. It also reflects the benefits of a system that allows much better decision making and better relationships, while also adhering to the FX Global Code’s principles of transparency and effective communication that supports a robust, fair, open, liquid, and appropriately transparent FX market.”
Balraj Bassi, Co-Founder at Tradefeedr, added: “Since our inception, Tradefeedr’s vision has been to deliver superior data transfer across the global FX trading community. We are excited to now roll out the platform amongst our leading liquidity providers and consumers who will be able to submit and receive their trading data amongst each other and with ECNs & trading venues over a single API.”
Alexei Jiltsov, Co-Founder at Tradefeedr, said: “FX trading data and analytics are currently siloed between venues and the sell and buy side.
“Users rely upon incomplete, inaccurate data, and before Tradefeedr, there has not been any method to work together with trading flows based on a common set of data. The significant adoption we have witnessed is a testament to the support for our vision and business model focused on transforming the FX marketplace for the benefit of all participants.”
Balraj Bassi and Alexei Jiltsov are both former Lehman Brothers executives who have together launched Blacktree, a macro systematic hedge fund.
Tradefeedr was established in 2018 to level the playing field by allowing the sell-side to submit trading data on behalf of their buy-side clients.