Symbol Master Incorporated of Philadelphia (SMI) and FOW TRADEDATA of London today, at the start of the OIC Options Conference in Austin, Texas, announced a strategic alliance partnership to provide high quality assured reference data and symbology services for the US futures and options derivative markets.
Both firms have proven experience in supplying distinctly different services in the same markets and the integration of data sets will offer customers enhanced reference data content and include intraday symbology updates.
Commenting on the partnership Lee Clifford, President of Symbol Master Inc. said "SMI looks forward to working with everyone at FOW TD. Together with FOW’s experience within the International markets and SMI’s advanced validation and intra-day processing for the U.S. and Canadian markets, this new partnership is a perfect fit to ensure consistency and accuracy between advanced trading systems.”
Commenting on the partnership Mark Woolfenden, Managing Director of FOW TRADEDATA said "there is very little crossover in what each of our companies do except that we serve the same derivatives market. The opportunity to leverage not only FOW TRADEDATA's trusted content but also SMI's options symbol management and its intraday technology in enhanced data services was a natural decision. Our initial focus will be on the North American and Canadian markets but we plan to integrate rest of world markets within SMI's Symbol Master product suite. The ability to quality assure options series symbology will support tougher trading operations and regulatory reporting in global markets."