March 27, 2023
London, Bangalore
Ventriks, a cloud data technology company, is delighted to announce a new partnership with New Change FX (NCFX), adding their industry-leading, real-time regulated benchmark rates for spot and forward FX to the Ventriks Data Platform and Data Marketplace.
NCFX enables market participants who require objective trade cost measurement capabilities to quickly and easily calculate execution costs against a recognised live official market benchmark . They are the only FCA approved and authorised administrator of streaming FX benchmarks for the FX market. NCFX delivers quality and credibility at an affordable price.
NCFX data is created by aggregating live market bids and offers in real time. Only data at ‘institutional’ size is taken to avoid using information from ‘fishing’ orders to create an accurate midrate that reflects the live market mid. Unlike other providers, NCFX benchmark rates are calculated 20 times a second enabling all users to transact with confidence, safe in the knowledge they are not exposed to unverified benchmarks that are calculated far less frequently. Data accuracy and speed to market provides NCFX’s clients with a significantly improved competitive advantage as FX execution can happen immediately, rather than having to wait for delayed ‘fixing’ windows. This provides both investors and their executing banks with unrivalled flexibility to build modern efficient business and execution processes.
Under this new partnership, NCFXs’ independent, objective, unbiased benchmarks will be available through the Ventriks Data Platform (VDP), giving users access to real time streaming benchmarks and high-quality reference rates for FX, precious metals and crypto markets to help customers navigate the complex and opaque world of foreign exchange.
Ventriks Data Platform (VDP) is a cloud-native and cloud-agnostic solution, built for data teams by data teams, that enables users to work and collaborate with any data, unbounded by scale, performance, and flexibility. VDP offers a faster and more efficient platform to ingest, transform, and orchestrate data workloads with no-code data connectivity and engineering, automated inter-application workflow and powerful data targeted components.
Ventriks Data Marketplace (VDM) provides data partners the opportunity to attract and engage with a wider audience and our clients to have a better experience in sourcing, monetising, procuring, and sharing data content.
Richard Quigley, CEO Ventriks commented “We are thrilled to partner with New Change FX, an award-winning real time FX benchmark provider. With the global FX market trading over $6 trillion daily, demand for real-time, accurate, and reliable FX data is at an all-time high. NCFX’s offering provides traders, investors, and financial institutions with access to live FX rates, a suite of advanced analytics , and historical data, enabling them to make informed trading decisions in real-time.
Paul Lambert, NC FX CEO, said: “Our partnership with Ventriks represents an important milestone for NCFX as we look to expand our coverage to include businesses from the energy & commodity markets. This fits well and advances our strategy to partner with other leading companies to provide solutions that meet the evolving needs of the global business community. This underscores our commitment to enable customer flexibility and choice with a seamless experience across cloud platforms and data marketplaces”.
