Today, ICAP and CME Group Inc announced a signed partnership deal with the Beast Apps Group.
Their main motive for the partnership is RapidRV, a real-time market data and analytics tool.
The major reason is to provide participants in the market the capability to analyze real time relative value opportunities between the "Over The Counter" (OTC) and exchange-based futures markets.
The benefits of RapidRV is that users can actually view streaming futures prices live from CME Group, alongside Over The Counter (OTC) derivatives and the US Treasury securities pricing from ICAP Information Services, (SwapPX and GovPX ) products. Due to this combination, users are allowed to analyse better the behaviour and relative value opportunities between the OTC as well as the futures markets.
As a multi-facet tool RapidRV has good functions as real-time displays and calculators to view market data and hedge ratios. It also portrays the relative values between the OTC markets and CME Group futures contracts in a favourable manner. The multi-facet tool continuously displays and calculates the opportunity between futures, as these future contracts includes the CBOT Deliverable Swap Futures, CBOT US Treasury Futures and CME Eurodollar Futures. Having pointed out these beneficial marks, it is only logical the move of CME group and ICAP ally to adapt futures technology RapidRV.
This service has now been made available in exchange for a monthly subscription fee, which includes market data fees from CBOT and ICAP exchange fees. CME Group Senior Managing Director of Financial and OTC Products, Sean Tully, made it clear that: "CME Group is pleased to partner with ICAP and The Beast Apps to bring our customers this innovative analytics tool. We’re always looking at new ways to improve upon our customer experience and make our highly liquid futures markets more efficient and accessible for all types of participants.”