Parameeta Solutions, Data and Analysis Department of TP ICAP, has launched an improved actual data service designed to improve transparency in the non -prescription oil markets (OTC).
The company explained that the new platform provides direct pricing and sources from a PVM and ICAP mediator, with TP data to follow later this month, making Parameeta the only provider of the information group of three of the largest oil brokers in the world.
Moreover, the company said that the service is dealing with a long challenge in OTC oil trade, as the limited vision and fragmented data hindered efficiency.
By providing pricing in actual time, Parameeta aims to help traders, risk managers and developers to build more smart models, enhance trading platforms and make faster decisions.
“On fast -moving markets, the data in an actual time is not a luxury, it is a necessity,” said Silvina Alaidico Martinez, CEO of Parameeta Solutions. “We have built this service to help customers move faster and make better decisions-supported in actual time, all in one place.”
“This launch represents a big step forward in bringing more transparency to OTC oil markets – what the industry has long needs,” added Andrew Polidor, Chairman of the Energy and Commodities Board of the TP ICAP.
The service provides medium heads across the oil barrel, stretch raw, light ends, medium distillation, fuel and LPG oil, which were obtained from more than 100 brokers across the offices in London, Singapore and Dubai.
The data is delivered through multiple channels, including Websockket, Surfix and Marketfeed, and it is also combined into the TP ICAP, which provides tools depicting users and market intelligence in actual time.