About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

MDX Technology Secures Private Investment to Drive Business Expansion Plans

Subscribe to our newsletter

Data collaboration technology vendor MDX Technology (MDXT) has secured “significant investment” from a group of private backers, including Daniel Simpson and Emanuel Mond, co-founders of Cadis (now IHS Markit EDM) and Graham Denyer, ex CTO of IHS Markit EDM. The funding – an undisclosed amount – will accelerate the firm’s business development plans and new technology development activities.

MDXT’s data collaboration technology is used by investment banks, interdealer brokers and buy-side firms, and underpins the MDXT Marketplace – previously known as IowaRocks – for market, alternative and reference data.

“The MDX brand is very well recognised, with a couple of thousand unique users and 40+ customers, all great blue chip names,” says Simpson. “This investment will help us scale the business and take it to the next level, by building a global 24/7 support desk, increasing our cloud infrastructure, growing the product features and expanding the development team and the sales and marketing teams. We’ve more than proved the concept, it’s a really well-established business, but we now want to get from A to B that bit quicker, which obviously requires capital.”

“We’ve got a very well-regarded technology stack that does collection, storage, and distribution of data,” says Paul Watmough, CEO at MDXT. “One of the key distribution points is the MDXT Marketplace, where we’ve onboarded 30+ data providers including the likes of ICE, IGM Credit, and NewChangeFX, which is all underpinned by our distribution technology. And the technology stack is our is our core focus.”

“Increasingly, what we’re seeing is brokers and exchanges wanting to white label or OEM the technology as their distribution mechanism, their data backbone effectively,” adds Simpson. “And there are three distinct use cases: intrabank, so banks sharing real time data amongst themselves internally, e.g. trading desk to sales trading to risk; buy side to sell side, sharing things like axes and inventory; and providing the data backbone for the brokers, the exchanges, and the vendors. Crucially, it’s one piece of technology underpinning all of that.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Enhancing trader efficiency with interoperability – Innovative solutions for automated and streamlined trader desktop and workflows

Traders today are expected to navigate increasingly complex markets using workflows that often lag behind the pace of change. Disconnected systems, manual processes, and fragmented user experiences create hidden inefficiencies that directly impact performance and risk management. Firms that can streamline and modernise the trader desktop are gaining a tangible edge – both in speed...

BLOG

SOLVE Launches AI-Powered Pricing Tool for Corporate Bond Market

SOLVE, the fixed income data and pricing solutions provider, has launched of SOLVE Px, an AI-driven pricing tool for the high-yield (HY) and investment-grade (IG) corporate bond markets. The new tool delivers predictive, trade-level pricing across more than 100,000 corporate bonds, supporting fixed income professionals operating in often illiquid and fast-moving markets. Built on machine...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

ESG Data Handbook 2022

The ESG landscape is changing faster than anyone could have imagined even five years ago. With tens of trillions of dollars expected to have been committed to sustainable assets by the end of the decade, it’s never been more important for financial institutions of all sizes to stay abreast of changes in the ESG data...