A growing need for broader market coverage
A leading quantitative trading firm implemented a multi-phase data infrastructure project to materially upgrade and expand its derivatives trading and research capabilities. Parameta was selected during the inaugural phase to provide fundamental interest rate swaps and options datasets to support the development of a more complete view of global OTC rates markets.
Having successfully integrated Parameta data into its workflows during the first phase, the firm sought to expand coverage to a more sophisticated range of rates products and a broader offering of currencies and market segments. The objective was not to replace an existing provider, but to gain a deeper and more comprehensive picture of OTC market activity to support front-office price discovery and enable more robust research.
Looking beyond a single market perspective
The firm’s initial subscription provided access to a subset of rates and options data. As the project progressed, and the team was able to validate the benefits of transaction backed OTC data, they moved to expand their scope to access a more holistic view of the market.
Access to a wider range of broker-sourced data became increasingly important as the firm looked to deepen its analysis across global rates markets. Historical depth was also a key consideration. For quantitative trading firms, the ability to analyze market behaviour over time is critical for research, model development, and strategy testing.
The challenge was not simply obtaining more data. It was obtaining broader coverage, extensive history, and flexible delivery methods that could integrate directly into existing trading and research environments.
Expanding access across rates, options and inflation
Parameta Solutions partnered with the client to significantly expand its data coverage across interest rate swaps, interest rate options, and inflation derivatives.
The solution combined real-time market data delivered via WebSocket with historical tick data delivered through Snowflake, providing the firm with access to both live market activity and extensive historical records. This enabled traders and researchers to work from a consistent dataset across real-time and historical workflows while leveraging delivery mechanisms that aligned with the firm’s existing technology stack.
By expanding access across both Tullet Prebon (TP) and ICAP data sources, the client gained a broader view of market activity across key OTC rates products and currencies.
A platform for future growth
Today, the firm continues to use Parameta Solutions data for front-office price discovery and market analysis across global rates markets. With access to a broader range of OTC derivatives data, extensive historical coverage, and flexible delivery options, the organization has established a scalable foundation for future growth.
As trading strategies evolve and data requirements increase, the relationship provides a pathway for further expansion across business functions, geographies, and asset classes, ensuring the firm can continue to access the market intelligence needed to support its next generation of trading and research initiatives.
About Parameta Data
Parameta Solutions is the data and analytics division of the TP ICAP Group and the exclusive provider of OTC market data from its leading brokerage brands, including ICAP, Tullett Prebon and PVM.
We deliver high‑quality market data, indices and analytics across interest rate swaps and swaptions, money markets, FX, and energy and commodities -empowering financial professionals worldwide with trusted insights for the creation of trading strategies, price discovery, pre & post trade analytics, risk management and regulatory compliance.
Contact us for further information or to request a data sample.
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