London-based financial data distributor TotemOffice has launched TotemQuotes, an online source of independently validated end-of-day OTC price data.
According to TotemOffice, pension and hedge fund managers, risk managers and product controllers and auditors are all under increasing pressure from the regulators to source independent validation for the valuation of their OTC positions. "With this new service we are setting the market standard for the provision of OTC derivatives data," says Tim Barker CEO of TotemOffice.
TotemOffice has struck deals with inter-dealer brokers including Cantor Fitzgerald, Garban-Intercapital and Tullett & Tokyo Liberty for the provision of end-of-day information on interest rates, fixed income, currencies, equities, credit and commodities markets. The company says this data will be manually checked and reformatted into a consistent style for redistribution.
Users have the opportunity to subscribe to TotemOffice at different levels. The TotemQuotes data is available by instrument for each business day or via monthly subscription to the closing price for every calendar day. The data can be downloaded immediately or searched and combined into one file for download at a later stage.
Additional features to the service will be rolled out over the coming months.