Euromoney TRADEDATA has partnered with MDX Technology, a fintech specialising in data connectivity, to offer a broader range of distribution channels.

TRADEDATA, part of London-based publishing firm Euromoney, said on Tuesday it has reached an agreement to use MDXT connectors to meet the growing demand for flexible access to reference data sets.

Mark Woolfenden, managing director at Euromoney TRADEDATA, said in an emailed statement: "Our flexible, on-demand data consumption model ensures users only pay for the data they do need and not for data they don’t.”

Woolfenden added: “By using MDXT's proven capabilities we can now provide more innovative products and reach new customers through flexible web interfaces, which allows them to request specific data products from our range faster and more efficiently.”

Nigel Someck, CEO at MDXT, said the partnership reflects the changing requirements of reference data consumers: “It is no longer appropriate for data providers to simply make data available and expect customers to do the graft adapting it to their required format.”

“We see significant demand for on-demand reference data to be delivered in a variety of different formats for clients to derive value from the data - be it for pre and post trade validation, regulatory compliance, STP, etc,” Someck added.

Euromoney TRADEDATA said it offers instrument data for over 85,000 derivatives contracts on more than 110 exchanges.

London-based MDXT said it supports over 35 of the world’s top financial institutions, including TP ICAP, HSBC and Intercontinental Exchange, with over 300 connectors that translate data from various programming languages including Excel, Symphony, Python and Java.

Euromoney TRADEDATA launched in March 2020 its first reference data service that can be accessed by clients through Symphony, the collaboration platform used by the world’s largest banks.