The deal unites two specialist data providers to deliver greater market insight
Tullett Prebon Information (TPI), the provider of independent real-time price information from the global OTC financial and commodity markets, today announced that DataGenic, the provider of smart commodity data management software, has signed a license to redistribute its real-time energy market data.
TPI will provide real-time data derived from its Tullett Prebon broking business as well as its PVM oil trading business, which Tullett Prebon acquired in November 2014. Data sets include European Power, European Gas, Fuel Oil, Middle Distillates, Biofuels, International Coal and Global Oil Coverage from across the barrel.
This deal comes at an important time with the energy sector continuing to see high levels of volatility due to fluctuating oil prices.
Richard Quigley, CEO at DataGenic, commented: “The ability to cope and even succeed in times of extreme fluctuations depends a huge amount on having the right insight. Now, more than ever, our customers need access to quality data, which has traditionally been hard to access. This deal is important to us as by integrating TPI’s data into our technology, we can provide a crucial and time-critical service.”
DataGenic’s customers include energy and commodity market participants such as banks, trading houses and suppliers. The company will redistribute TPI’s data through its Genic Datamanager, Genic DataiQ, Genic Excel Add-in, Genic DataHub and Genic CurveBuilder products.
Frank Desmond, CEO at TPI, added: “We’ve developed the energy side of the business considerably in recent years, particularly through our acquisition of PVM and, more recently, MOAB. The result is an expanded set of high quality energy and commodities data that plugs some critical gaps for market participants. We are delighted to be partnering with DataGenic, a respected player in the industry ecosystem.”
Following the acquisition of oil trader PVM, Tullett Prebon acquired the US oil brokerage firm MOAB in June 2015.