ETF data provider Ultumus has announced a strategic alliance with the cloud-based swaps trading programme Nuvo Prime to provide the next generation of data products for the finance and trading industry.
The leading global provider of ETF said partnering with the developers if SwapScale would provide mutual clients with the ability to better access and use ETF, index and dividend forecast data ensuring timeliness and accuracy for all aspects of swaps trading, pricing and reporting.
Ultumus said the "prime finance space" is rapidly evolving, not only as new companies come to market but also for incumbents confront the high costs and inflexibility of legacy technology stacks.
It added that remaining competitive means strategic adoption of next generation solutions.
Bernie Thurston, chief executive at Ultumus said: "We are very pleased to be partnering with Nuvo Prime to provide our data set that offers the greatest granularity of data and client support. This partnership allows us to provide our service to a wider audience and provides a real choice to clients on who to choose to service their data needs."
Claire Young, co-founder and co-chief technology officer at Nuvo Prime added that reliable direct and proxy pricing implemented in real or near-real time is a "valuable strategic enhancement to our prime finance offering." "Our collaboration with ULTUMUS extends our capabilities in this important area."
SwapScale by Nuvo Prime is the first of its kind: a swaps trading and management platform built from the ground up for cloud. Employing next generation web technologies, it combines the security, resilience and scalability of distributed computing with the full feature set, customisability and cost-efficiency of software-as-a-service.