FX Data Platform Goes Live with Goldman Sachs, UBS and XTX Markets

A foreign exchange data start-up founded by two former hedge fund managers has launched its analytics platform, with Goldman Sachs, UBS and XTX Markets among the first major institutions to use it. Tradefeedr uses data science to aggregate, analyze and disseminate trading information between capital market participants seeking data-driven decision making. The firm said it is looking to level the trading analytics playing field by allowing liquidity providers to submit data on behalf of buy-side clients. The platform’s users are also able to share analysis with their counterparties and collaborate to build benchmarks. Its Global FX Algo Book initiative allows users to pool algo runs across providers for more accurate performance statistics and transparency. Tradefeedr was established in 2018 by Balraj Bassi and Alexei Jiltsov, who co-founded macro systematic FX hedge fund, Blacktree, in 2009. Prior to that, Bassi and Jiltsov worked together at Lehman Brothers in various FX and fixed income electronic trading roles.