SuperDerivatives Readies Beta DGX Real-Time OTC Derivatives Terminal

Derivatives pricing, data and risk management software provider SuperDerivatives is planning to release a beta-testing version of its new DGX data display platform by year-end to clients of its SDX multi-asset structured products pricing platform.

Since announcing in June that it would develop a web-based market data terminal to deliver real-time, streaming price updates for over-the-counter derivatives (IMD, July 12), SuperDerivatives has secured distribution deals with an unnamed newswire to provide news widgets for DGX, and with an unnamed provider of video content covering the stock markets. The vendor is also currently in negotiations with a data and investment research provider to supplement its proprietary derivatives prices with market data on other asset classes to broaden the scope of the platform.

“Obviously the derivatives coverage is the distinguishing feature as we have much greater depth of coverage than traditional terminal providers, but we want the platform to do everything, so we are also providing prices, fundamentals, data and research covering other asset classes such as equities and cash products,” says David Collins, head of strategic development at SuperDerivatives.

As well as streaming price updates, DGX includes an app store that will enable third-party software vendors to create applications to deliver content sets not available in the basic terminal offering—for example, specialized news, economic analysis or corporate actions data—to which DGX clients will be able to instantly subscribe via chargeable apps that can be integrated as widgets into the platform.

In premium products, “everyone gets all the data, but not everyone needs it, so we created the app store on the platform to provide additional functionality,” enabling clients to subscribe to only the specific data they want, Collins says.

Additional features of the platform include a fully customizable dashboard, with widgets displaying OTC derivatives prices (as well as other asset classes), interest rates, FX rates, charts and news, as well as an alert functionality that notifies users when complex derivatives products are traded, and a chat function to support interaction between market participants.

Initially, the web-based DGX platform will be available free of charge to any SuperDerivatives client with an existing license for the vendor’s SDX multi-asset platform for pricing structured products. However, after an introductory period, the vendor plans to price access to the platform at around $2,500 per year, Collins says.

In the meantime, Collins says Super­Derivatives will continue to conduct final development—including enhancing the sophistication of the platform’s Google-like search engine functionality, which will enable users to search for any data available in the terminal using free-text searches—and internal testing on DGX, in preparation for a beta launch scheduled for November or December.