For the average trader, the understanding of what data is within the
financial industry might only be limited to the numbers on market charts that identify a
trend, but from a financial perspective, data is that and beyond. “The financial industry
revolves around how an institution can analyse data to get the best results for whatever
product they are trading,” David Hastings, responsible for Finalto’s market data sales and
distribution, explained. 
“Whether it would be a foreign exchange transaction, a
share of equity or it may well be a company looking at credit card analysis from their
client base if they are a large bank and they want to see where their people spend their
money,” he added. Financial data types can be anything from execution data, real time market
data as well as time changes and price data from liquidity providers (LPs), real time tic
data, daily bars (market data) and historical data. It makes investing more efficient,
analysis better and gives firms space to innovate. Consumers, in turn, receive better
products and ease in investment analyses as well as building portfolios. Hastings added that
data is also vital to several hedge funds that use it to test their algorithm models. Data
from various institutions can also be interpreted into profitable position taking. In
addition, data (especially historical) helps alert people to a trend, allowing them to
analyse where a one is actually forming or falling, saving them from any risky or untimely
investments. It also helps them conduct quantitative model back testing, price engine
verification, practice trade surveillance, conduct internal transaction cost analysis as
well as technical analysis charting.
But how does one go about looking at such data?
“At Finalto, we provide data in a FIX API format or a CSV file. They are the two vehicles
that most companies use,” Hastings said. The financial information exchange (FIX) API is a
set of clearly defined rules and methods designed specifically for the electronic transfer
of financial data. It fosters a seamless flow of real-time data between market participants
and is used by LPs, traders and regulators. A comma-separated values (CSV) file is a text
file in which information is separated by commas. They are most commonly encountered in
spreadsheets and databases and can be used to move data between programs that are not
usually able to exchange data. In addition, Finalto provides data on over 3,000 instruments
from multiple asset classes including forex, precious metals, energies and even
cryptocurrencies. Hastings noted that investors are free to interpret Finalto’s data as they
wish. “This is what is so unique about it. If you put our data into a chart, for example, it
is how you interpret what that means – where you draw the line of what a support line or a
resistance line is on the chart.” Contact us today to hear about how our data can help you. Service
available only to Professional clients and varies per jurisdiction – Trading involves
significant risk of loss