IPGL, the private investment firm that’s managed by Michael Spencer, the Founder and former chief executive at Icap and NEX, has reportedly invested in London based Tradefeedr, a trade analytics solution provider.
Spencer remarked:
“Tradefeedr is a really promising financial technology business, with the right combination of technical knowhow and market wisdom and I am very pleased to be able to back it at this stage in its development.”
Tradefeedr allows customers to analyze and query their (foreign-exchange) FX trading data from various liquidity providers (LPs) and (electronic-communication-networks) ECNs through a standardized API, allowing them to enhance the quality and overall effectiveness of their trade execution process.
During the past year, Tradefeedr has signed up 14 different LPs and a number of other clients to use its trading platform. These companies reportedly include Goldman Sachs, UBS, XTX Markets and Insight Asset Management.
Most of the new $3 million investment into Tradefeeder’s operations has come from IPGL. Seth Johnson, former CEO at NEX Markets, has also made an investment and will now serve as the company’s board chairman.
Tradefeedr was founded in 2018 by Balraj Bassi and Alexei Jiltsov, who has prior experience working at Lehman Brothers and also helped establish Blacktree, a macro systematic hedge fund.
Bassi stated:
“We believe that our platform will deliver significant benefits to market participants, through improving collaboration and giving better access to trading information, which will lead to enhanced decision making. There is a huge demand for greater transparency in financial markets and Tradefeedr can help meet that demand.”
As noted on Tradefeedr’s official website, trading analytics can be “overly complex.” Underlying trading data can be difficult to process and is usually spread across different LPs, trading platforms & ECNs. Tradefeedr claims that it has created a secure API platform to simplify these processes.
The company added:
“Tradefeedr maintains normalized data connections to all your providers. Our APIs deliver unified, analysis ready, enriched trading & market data so you can focus on what matters – data driven decision making.”