Best Market Data Provider (Exchange): CME Group

The headline news for CME Group last year was its $5.5 billion acquisition of NEX Group, creating a trading venues giant spanning futures to Treasuries and foreign exchange (FX). With the two organizations’ market data businesses combined, CME Group has also emerged as a data powerhouse and tops this year’s reader vote for Best Market Data Provider (Exchange).

“We are very excited about the opportunities that NEX brings to CME Group’s data business and our combined client base,” says Trey Berre, global head of market data services at CME Group. “Offering both cash and futures market data allows us to develop a comprehensive set of data products that will provide new and greater insights and trading opportunities for our customers.”

As an example, Berre points to the launch of the BrokerTec US Treasury display in the Bloomberg Capital Markets Package (BCMP) that gives customers the ability to access US Treasury price discovery sourced from the fixed-income trading platform that CME gained as part of the NEX acquisition. “We are now extending that capability by combining CME derivatives information with BrokerTec over-the-counter information into the BCMP service,” Berre says. 

CME has also made several of NEX’s products available on DataMine—its historical market data platform—including historical data derived from EBS Market’s FX matching platform and the GovPX US End-of-Day Pricing Service. In addition, CME will make the first real-time BrokerTec market datafeed available this summer.

In other initiatives, CME last year launched a settlement and valuation streaming data service for all futures and options, providing a single source for valuations, high/low prices, volume and open interest of all CME products. It also introduced alternative datasets in DataMine for the first time, including satellite imagery and implied volatility measurements, and launched an artificial intelligence (AI) service called Order Book AI, which helps users identify market patterns in 12 of its most actively traded futures contracts.

“The last year has really been about delivering choice to our clients, providing efficient access, and shortening the time it takes between selecting a data service and accessing it,” Berre says.  

An important area of focus for the exchange over the coming months will be derived data—the ability of an institution to use CME data to create new products and services for their own customers’ investment or risk management objectives.  

“We also see an opportunity to grow our analytics in both real time and historical data, which includes the integration of NEX datasets,” Berre adds. “Ultimately, the new products and services we offer will create richer data for our end-users.” 

Read more about the Inside Market Data & Inside Reference Data Awards 2019 winners