dxFeed, a leading data solutions and index management provider for the global financial industry, is proud to announce a range of significant accomplishments and milestones achieved in 2023. The firm has demonstrated steady growth, innovation, and fintech industry recognition across AI, DeFi, IaaS, Index Management, and other segments.
Financial success:
- dxFeed achieved a remarkable YoY overall revenue growth exceeding 20%, continuing a strong 10-year growth trend.
- The product portfolio witnessed substantial expansion, enhancing the company’s position in the market.
Geographical expansion:
- dxFeed’s London office has been established, joining existing representatives in the USA, Europe, the Middle East, the Asia-Pacific region, North Africa, Georgia, and Canada. This marks a pivotal step in global market outreach.
- Geographical market data coverage expanded to include Australia and new European exchanges.
- dxFeed unveiled a groundbreaking 24/5 data feed for US Equities, offering dxFeed clients round-the-clock trading capability by providing licensed and indicative license-free access to after-hours market data.
Retail segment growth:
- dxFeed’s retail segment experienced exponential growth, with annual revenue doubling.
- Strategic partnerships were forged with key players in the prop trading segment.
- A dedicated product for end-to-end management of market data terminals and subscriptions was developed, catering to a diverse range of customers, including banks.
Index management:
- Bruce Traan, a seasoned professional within the index industry, became dxFeed’s new Global Head of Indices, bolstering the company’s leadership in Index Management and delivering the next frontier of index solutions for dxFeed clients.
- dxFeed expanded a comprehensive list of industry leading solutions for Index Management services and index product lines, including the calculation of indices for two SEC- and CFTC-regulated exchanges.
- dxFeed created the innovative “Faces of the Crypto Market” index family to define cryptocurrency market dynamics. A proprietary methodology developed by dxFeed, each index within the index family (FACEn) corresponds to an independent risk source, offering a novel holistic representation of the diverse crypto asset universe.
- dxFeed expanded the portfolio of synthetic asset indices for a wide range of global brokers.
- dxFeed’s comprehensive range of indices was integrated into the Refinitiv platform to improve distribution, accessibility, and insights for financial professionals and investors worldwide.
IaaS cloud services:
- dxFeed’s IaaS offering was named the Best Infrastructure Provider by the Sell-Side Technology Awards 2023, highlighting the product’s leading position and quality.
- Infrastructure management for Top Tier brokers was productized, with successful POC projects with major hyperscale cloud providers.
- A number of market data products customizations were implemented natively in the IaaS platform and were delivered to customers.
- The IaaS team defined its focus for 2024: refining provisioning automation, fostering a cloud-native approach, and adopting more flexible cloud billing, aiming to secure the leading industry position.
Crypto/Web3 initiatives:
- Active partnerships were established with all Web3 oracles existing on the market so far to provide data on various asset classes and deploy the firm’s own nodes in their networks.
- dxFeed’s data has been made available not only through various APIs, but also via analytical Historical Data Lake.
AI/Display innovations:
- dxFeed Spotlight, an innovative new AI-powered data engine, news & analytics portal, and ChatGPT plugin, has been introduced to the market.
- The prestigious Benzinga Global Fintech Awards named dxFeed Spotlight as a finalist in two categories: Best New Product and Most Innovative in Capital Markets.
- HFM FI Operations and Services Awards shortlisted dxFeed Spotlight as the Best New Front-Office fintech solution in 2024.
- A dedicated professional team has been assembled to work on this product.
- AI research and development has been separated into a dedicated unit to provide insight and create experimental models, as well as further developing proven models and their corresponding software stack.
HDL (Historical Data Lake):
- New product versions were released, supporting a full range of events and asset classes, including order book market depth and DeFi AMM protocols.
- The product’s analytical capabilities allow for multi-petabyte ad hoc data analysis, extraction, aggregation, processing and manipulation of mixed datasets of market and reference data, with unprecedented ease and performance.
- The product now provides an excellent basis for building both retail Data Shops and enterprise-grade analytical systems for surveillance and general analytics.
Calculated data enhancements:
- The dxPrice option pricing engine’s models have been enhanced to provide more accurate assessment of IV, and implied dividends and rates in various calculation scenarios.
- Numerous performance enhancements have been implemented to ensure timely calculation with ever-growing data volumes and data rates in the U.S. Options market.
Market search advancements:
- dxFeed Real-time Options Screener improved its performance, increased the number of data points, and provided support for full OPRA options coverage.
- New enterprise clients experienced dxFeed Unusual Options advantages in detecting abnormal events in the market as front-running indicators for the stock market.
- Significant improvements were made to Options Analytics’ ability to calculate implied dividends and corresponding stock.
Compliance focus:
- dxFeed’s dedication to compliance was marked with the SOC 2 Type 2 certification milestone.
- dxFeed’s professional compliance team has been strengthened and reshaped to face new challenges in 2024.
- The team has mapped out its efforts for 2024: it will focus on obtaining ISO 27001 certification for dxFeed in general, and a BMR license for Index Management business in the European Union.
Awards and recognitions:
- dxFeed’s IaaS offering was named the Best Infrastructure Provider at the Sell-Side Technology Awards 2023.
- dxFeed Spotlight was shortlisted as the Best New Product and Most Innovative at the Benzinga Global Fintech Awards 2023.
- Tamara Magel, dxFeed’s Managing Director of Planning and Control, was shortlisted for the European Women in Finance Awards.
- The HFM FI Operations and Services Awards 2024 shortlisted dxFeed in multiple categories, including Best New Front-Office Fintech Solution (Spotlight), Best Data Provider (dxFeed), and Best Cloud-Based Front-Office Solution (IaaS).
As dxFeed looks forward to a promising future, these achievements underscore the company’s commitment to excellence, innovation, and leadership in the financial market data industry.
About dxFeed
dxFeed is a leading market data and services provider and calculation agent for the capital markets industry. According to the WatersTechnology IMD & IRD awards honors, it is the “Most Innovative Market Data Project.” dxFeed focuses primarily on delivering financial information and services to buy- and sell-side institutions in global markets, both traditional and crypto. That includes brokerages, prop traders, exchanges, individuals (traders, quants, and portfolio managers), and academia (educational institutions and researchers).
