Saxo Bank Taps Acquire Media for Local News
Saxo Bank will use Acquire Media's news platform to provide its clients with their chosen local news sources.
Saxo originally enlisted Acquire Media in 2009 to deliver real-time news and economic calendar data from an unnamed global news provider to traders using its SaxoTrader platform in Copenhagen and London.
In March, Saxo launched a next-generation version of its platform, dubbed SaxoTraderGO, which includes a Web version for desktop computers as well as versions for iOS and Android. Today, Acquire provides its news service to Saxo Bank's traders and investors globally through SaxoTraderGO.
In recent months, Saxo has used Acquire Media's API to determine the types of news requested by users, by making a record of every time a user clicks on a story and calls Acquire's API.
"Using our API and customer feedback, Saxo has identified a trend whereby their clients are less keen on major global newswires such Dow Jones, Reuters and Bloomberg, and more interested in niche regional wires specific to their own markets," says Toby Cook, managing director at Acquire Media.
As a result, Saxo is now reigning in its use of global news providers, and is carrying out research with users in each region to determine which local news sources are required.
Acquire Media already works with most "established" news providers in the market, but if Saxo requires news from a provider that is not already partners with the vendor, "we contact them directly and can create a feed handler in a few weeks. Saxo has effectively outsourced that part of the IT function to us," Cook says.
Acquire Media's API allows Saxo's servers to pull news from the vendor's servers, while the broker also uses the Acquire Media Protocol Suite to deliver XML news into Saxo's databases over a continuously streaming secure internet connection.
SaxoTraderGO users can then configure which news stories they receive based on their portfolio, leveraging Acquire's Media proprietary taxonomy, which filters stories based on categories such as instrument, subject and geography.
As a vendor-neutral news provider, Acquire Media carries a wider breadth of news than many global providers who want to promote their own content rather than support niche news providers, Cook says.
"We don't provide our own news stories; we are a technology company that specializes in delivery of news, so we have no preference for which news providers our clients use" Cook adds.
The demand for niche and regional news is being driven by trading customers who require local-language domestic or regional news to support trading in local instruments.
"At each local exchange where people are trading, local news providers have a level of knowledge often lacking in the global newswires. Around the world, traders are demanding local knowledge in all languages. We have the ability to deliver that news content to our customers through a single connection," Cook says.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Data Management
Chief data officers must ‘get it done’—but differ on what that means
Voice of the CDO: After years of focus on data quality, governance, and compliance, CDOs are now tasked with supporting the business in generating alpha and driving value. How can firms put a value on the CDO role?
In a world of data-cost overruns, inventory systems are a rising necessity
The IMD Wrap: Max says that to avoid cost controls, demonstrate the value of market data spend.
S&P debuts GenAI ‘Document Intelligence’ for Capital IQ
The new tool provides summaries of lengthy text-based documents such as filings and earnings transcripts and allows users to query the documents with a ChatGPT-style interface.
As NYSE moves toward overnight trading, can one ATS keep its lead?
An innovative approach to market data has helped Blue Ocean ATS become a back-end success story. But now it must contend with industry giants angling to take a piece of its pie.
AI set to overhaul market data landscape by 2029, new study finds
A new report by Burton-Taylor says the intersection of advanced AI and market data has big implications for analytics, delivery, licensing, and more.
New Bloomberg study finds demand for election-related alt data
In a survey conducted with Coalition Greenwich, the data giant revealed a strong desire among asset managers, economists and analysts for more alternative data from the burgeoning prediction markets.
Waters Rankings 2024 winner’s interview: S&P Global Market Intelligence
S&P Global Market Intelligence won two categories in this year’s Waters Rankings: Best reporting system provider and Best enterprise data management system provider.
How ‘Bond gadgets’ make tackling data easier for regulators and traders
The IMD Wrap: Everyone loves the hype around AI, especially financial firms. And now, even regulators are getting in on the act. But first... “The name’s Bond; J-AI-mes Bond”