Refinitiv announced this Monday that it has teamed up with TP ICAP, by signing a multi-year strategic agreement, in order to support the interdealer broker’s data needs for both its broker and technology platforms.
According to the statement, the agreement will power TP ICAP’s brokers and enterprise technology with data, news, and analytics from Refinitiv. The financial markets data provider will provide data assistance through the Refinitiv Data Platform, and on the desktop via Eikon.
TP ICAP, which is one of the largest interdealer brokers in the world, needs global data across multiple asset classes. This includes foreign exchange (forex), commodities, equities, fixed income, energy, and derivatives.
Commenting on the partnership, Andy Murphy, Global Head of Market Data at TP ICAP, said: “We are very pleased to enter into this agreement and excited about working together with Refinitiv as a key strategic partner for the provision of our market data.”
Refinitiv to support TP ICAP’s growth
Initially, Refinitiv and TP ICAP will work together to analyze changing business priorities as well as identify further opportunities. Under the agreement, the interdealer broker has comprehensive access to Refinitiv’s datasets for existing and future applications.
Beyond providing data, the agreement will also see the data provider support TP ICAP’s growth ambitions by reducing the time it takes the company to build new data-centric applications and services for its clients.
“We’re delighted to support TP ICAP with the data and technology it needs to enhance investment and support global growth through its activities,” added James Cliffe, Regional Managing Director for EMEA at Refinitiv.
“We will continue to work with TP ICAP as its business priorities evolve and we will support the company with a focused and strategic approach to our data. This collaborative approach looks to ensure that TP ICAP and Refinitiv can succeed together.”