Iress’ QuantHouse division has moved to expand its real time market data capabilities with the addition of Saudi Exchange data.
The new offering includes market insights with real time data on equities, trusts, rights, indices, and bonds. Following the expansion, the data is now available to QuantHouse clients through a single API.
Speaking to The TRADE on the drivers behind the expansion, Rob Kirby, EMEA head of sales and business development at QuantHouse said: “At QuantHouse we are always looking for ways to expand and evolve our market data solutions, so that we can help our clients adapt to changing market conditions as quickly as possible. The inclusion of real time data from the Saudi Exchange is a great example of that ethos.”
QuantHouse confirmed that London clients had already begun using the new offering as part of their expanded trading strategies.
“The Middle East region is undergoing large economic transformation and diversification with increased investments into technology, finance and infrastructure, so it’s growing in importance for our client base,” Kirby explained.
“We already have one long-standing client, a systematic hedge fund which is taking this new data set from us, and it’s proving interesting to a range of our clients across the world, notably mid to large sized banks and also many clients in the far east.”
Kirby added that QuantHouse was in talks with other exchanges and venues in the region to expand the firm’s reach further.
Iress announced in 2019 that it would be acquiring QuantHouse for €38.9 million, subject to material earnout for the period ongoing until the end of 2021.