Trading, risk and processing solutions provider Murex has partnered with Tullett Prebon Information (TPI) to use its real-time, end-of-day and historic price information for internal model validation, gaining independent and accurate data to feed the Murex platform, according to officials of the companies.
“TPI content comes directly from the trading operations of our global brokerage activities,” says Frank Desmond, CEO of TPI. “We’re not position-influenced. When customers want to trade in OTC markets, they use a brokerage business and introducing brokerage like Tullett Prebon, which results in a clean and sophisticated pricing service.”
Using TPI data, Murex will back-test and calibrate its models. Users of Murex’s MX.3 technology platform will be able to get a snapshot of TPI historic data for testing. Murex has also built a feed-handler to get TPI’s FTP files, and will make TPI data to its customers globally.
TPI and Murex have worked together for years, according to Desmond, and have customers in common. “Many of our customers were saying they wanted to use our content in their Murex platform or solution,” says Desmond. “They asked if we could provide a means by which that data can be more easily consumed within the Murex environment.”