Digitec launches D3 DataHub for FX market data

Digitec has launched D3 DataHub, a managed market-data distribution platform that standardises provider-specific feeds and distributes them via the D3 FIX protocol. The platform is currently in a live pilot with four global FX trading banks.

Built on a resilient and scalable architecture, D3 DataHub converts varied provider feeds into a common format and delivers them through Digitec’s D3 FIX interface. The service is offered as a managed solution with monitoring, redundancy and operational support to speed onboarding and reduce the need for separate integrations for each feed.

Initial connectivity includes 24X, LMAX Group, New Change FX and SGX FX, and incorporates Digitec’s Swaps Data Feed (SDF) developed with 360T. Digitec said additional providers will be added over time.

According to Marco Kuper, CPO at Digitec, ‘Historically, banks and financial institutions built and maintained separate integrations for each market data provider, resulting in increased implementation costs, longer onboarding times and ongoing operational complexity. D3 DataHub reduces the burden of onboarding by providing connectivity through a single, standardised layer that enables clients to connect once to access multiple market data providers through a common interface.’

Radhika Bindiganavile, product manager for market data at Digitec, noted that D3 DataHub was designed for FX trading desks and ‘provides scalable architecture as clients add more data sources and is designed to integrate with our D3 Pricing engine and other downstream applications.’ She said the platform is already in use at four top-tier FX banks.

Digitec also launched D3 Channels in April to automate FX swaps pricing workflows for liquidity providers and positions D3 DataHub to integrate with its D3 Pricing and D3 OMS systems. The company reports a global client base and says its products cover multi-asset pricing, order management and market data. Its portfolio includes D3 Pricing, D3 OMS, D3 DataHub, the Swaps Data Feed and a Precious Metals Data Feed developed with 360T. The firm counts more than half of the Euromoney Top 50 FX trading firms among its clients.