Online broker CMC Markets has partnered with Tradefeedr, a data science platform built for financial markets, to deploy cloud based machine learning to improve trading analytics and intelligence around liquidity management.
The firm says the additional capabilities provide for the ingestion, cleansing and store of massive amounts of market and transactional data; high performance computing infrastructure for inspecting, intersecting and querying massive data sets, including data visualisation tools and APIs for extracting the results of analysis for further analysis. It also incorporates analytical tools for data driven decision making and has models, pre-built frameworks and feature engineering to solve complex problems.
“We work with our clients to solve complex problems and derive competitive advantages from understanding and using their data” says Balraj Bassi, co-founder at Tradefeedr.
Greg Niebank, group head of product at CMC Markets, adds, “Applying machine learning to trading analytics gives us the insights we need to improve our liquidity and better manage our liquidity provider relationships. Partnering with Tradefeedr allows us to bring these capabilities to bear effectively.”
Meanwhile in s separate development, CMC has claimed an industry first by incorporating voice-controlled services on all Amazon home assistant products – Alexa – giving traders access to a range of content, including the latest market data, analyst tweets, articles and commentary.
Using the voice command “Alexa, open CMC Markets”, users can also access the latest spreads and price change percentages for five of the most frequently traded instruments on CMC Market’s platform.
“Our daily lives are becoming more and more centred on processing large volumes of information, as well as how we utilise the resources at our disposal,” says David Fineberg, group commercial officer at CMC Markets. “The CMC Markets Skill provides traders with a new and convenient method of staying informed and up to date, and crucially makes consuming large volumes of information more manageable.
“At CMC Markets we recognise the power of technology, so we continue to invest in a range of services to be a leader in this space,” he adds. “This is why we have taken proactive steps to ensure that we are the first trading company to fully utilise the potential of this software.”