A new service from Digital Notary provider Codel ltd. Immutarate provides near real-time, immutable, mid-prices for 72 currency pairs aggregated from multiple electronic communication networks.
Immutarate FX source data is aggregated by New Change FX but the Immutarate service can be applied to any source, market or tick data. The NCFX feed is an ESMA approved, benchmark. Codel then makes this data immutable, by creating a digital fingerprint or ‘Codelmark’ of the RateType, Symbol, Mid Rate, UTC Time, UK Time, UTCSnapTime and which is appended to this dataset. Data consumers can purchase the data feed as a FIX rest API and view and verify rates using as necessary
Immutarate provides data consumers with an immutable, approved benchmark feed of data that can assist in decision making or proof of compliance with the various regulations that exist such as MIFID 11 and PRIPS.
The introduction of the NCFX benchmark means that live FX execution can now be benchmarked against a recognised rate. FX deals can therefore be executed and benchmarked as they arise, rather than waiting for fixing windows. This gives freedom and flexibility to investors and their executing banks. NCFX benchmark rates are calculated 20 times a second so market users can act in the market whenever they choose, rather than being constrained by benchmarks that are calculated infrequently.
Download the Immutarate Fact Sheet