The firm introduced a new modular data consumption model which offers flexible data packages tailored to individual requirements, ensuring clients only pay for the specific data they need.
Signaling a comprehensive restructuring of its market data business, Tradition appointed a new executive management team for the job, which then embarked on re-branding the business, modifying its pricing model, adding new and updated product packages, enhancing its technology to make it easier for clients to consume data, and adding to the sales and product teams in all regions.
Heading the new executive team at TraditionDATA is Scott Fitzpatrick, who also serves as CEO of Tradition’s US-based business venture TraditionSEF. Scott joined the firm back in January 2014.
With over 2,300 employees in 29 countries, Tradition has built up decades of granular, historic data and trading activity for both liquid and illiquid products. Following demand from customers, the firm introduced a new modular data consumption model that offers flexible data packages tailored to individual requirements, ensuring clients only pay for the specific data they need.
In addition, the revamped market data and information services division launched a proprietary in-house market data delivery channel, INTEGRATE, which was designed for clients that prefer to purchase data directly from Tradition, rather than through their accredited third-party providers.
Scott Fitzpatrick, Head of TraditionDATA, commented:
“The pricing and consumption models for market data have largely remained the same for the last decade and is no longer fit for purpose. Our goal is to make our data easy to buy and available in a way that is efficient for consumption. That’s why we created a flexible, modular data model that reflects the evolving market need, the ever-changing regulatory landscape and addresses the cost pressures faced by many customers.