Direct Edge ‘Explores’ More Data
US stock exchange Direct Edge has integrated data from London-based securities lending and short-interest data and analytics vendor Data Explorers into its market data distribution platform, to enable clients to subscribe to the data via their existing connectivity to Direct Edge.
Data Explorers’ feed delivers securities lending information covering $12 trillion of securities in the lending programs of over 20,000 institutional funds, which firms can use to create, back-test and optimize trading strategies.
Officials say market makers could use the data to view borrowing costs to determine which securities are hard-to-borrow and whether they should continue to make markets, or to identify dislocations for ETF and index arbitrage.
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