Home Breadcrumb caret Industry News Breadcrumb caret Industry Big six banks partner with CanDeal to create data hub DataVault Innovations will provide fixed-income and derivatives market data By Staff | February 12, 2019 | Last updated on February 12, 2019 1 min read © Anton Gvozdikov / 123RF Stock Photo Canada has a new hub for market data. The big six banks have partnered with Toronto-based CanDeal, an online exchange and data services provider, to create DataVault Innovations, the firm announced Tuesday. The data-service business is Canada’s “first comprehensive” fixed income and derivatives market data hub, the firm says in a release. The new hub provides central pricing and analytics data to address the data needs of regulators and market participants. It will also act as a consolidation and distribution point for Canadian over-the-counter (OTC) bond and derivatives data, available directly to end-users and third-party distributors. In the release, Jayson Horner, CEO and co-founder of CanDeal, said the new hub would allow the industry to improve risk management and regulatory compliance by “recognizing data rights for contributors while expanding access to broad, high-quality OTC data.” He also noted that market data consolidation is a significant step toward forming a suite of benchmark products for Canada’s markets. The hub’s services will adhere to global best practices for data management, big data and information security, and will leverage regulatory frameworks such as Basel lll and IOSCO principles. Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo