Gordon Bloor, CEO, Tenfore, says: "Trends such as the explosion of algorithmic trading are driving the increase in demand for services that will help firms develop effective trading strategies. Our data allows clients to back-test their strategies in accurately recreated market environments before deploying them in real-time."
Algorithmic trading volume is expected to double by the end of 2006, according to research from The Tower Group. In addition, trading strategies are becoming increasingly sophisticated. Models such as statistical arbitrage rely on good quality historical data to identify price trends and therefore predict future performances.
Tenfore has sourced and stored data from all key US and European equities and futures exchanges and more than 20 FX and treasury contributors to create its historical data service, including all Level 2 ticks where available. In addition, the company provides real-time exchange-based, OTC, news, research and fundamental data via its own ticker plant.
Bloor adds: "Clean and reliable historical tick data that goes back far enough and covers all the necessary instruments and markets is traditionally very difficult to get. Our clients can now add this missing piece to their current sets of real-time, delayed and end-of-day market data."
Tenforeâs real-time data feeds may be integrated into third party applications, distributed on industry standard market data platforms or delivered through its own desktop products. A range of APIs provide a high-level easy-to-use development environment for applications that need to access low latency streaming raw data.
With 3,000 direct end users, Tenfore boasts more than 500 corporate clients including, HSBC, ING and Rabobank and 45 wholesale/redistribution clients including Thomson Financial, SunGard and GFI.