DIGITEC introduced a new platform called D3 DataHub, moving away from foreign exchange pricing to market data distribution. The managed service delivers feeds from multiple providers through a single connection, currently used by four global FX trading banks that remain unnamed.
The platform includes data from 24X, LMAX Group, New Change FX, and SGX FX, along with DIGITEC’s Swaps Data Feed, developed with 360T. Additional providers may join, though no timeline was provided.
From Pricing Engine to Data Pipeline
For years, DIGITEC focused on its D3 Pricing engine and D3 OMS, tools adopted by over half of the Euromoney Top 50 FX trading firms. The company has referenced this adoption rate since 2021, with its technology integrated into bank FX swaps and non-deliverable forward desks.
DataHub represents a change in direction. Rather than selling pricing tools, it offers the connection itself—standardizing different feeds and delivering them through DIGITEC’s D3 FIX protocol. The service includes monitoring, redundancy, and support, though pricing, availability dates, and revenue expectations remain undisclosed.
Radhika Bindiganavile, DIGITEC’s product manager for market data, stated the platform is “already in use at four top tier FX banks.” The announcement described it as a “live pilot,” leaving its exact status ambiguous. Marco Kuper, the chief product officer, said it reduces onboarding work by providing “connectivity through a single, standardized layer,” though no specific time or cost savings were mentioned.
Exegy operates Axiom, a real-time consolidated feed, and recently launched its FPGA-based Nexus platform. Gold-i’s MatrixNET distributes data across venues, including Crypto.com and the onchain options platform Derive.xyz. Both target a wider audience than DIGITEC’s bank-focused service.
Related: Retail investors get free EU market data
Evidence suggests banks need such solutions. A January survey by Exegy and Acuiti found nearly three-quarters of 61 global trading firms experienced latency spikes, dropped packets, or full outages during high volatility. Twenty percent lacked any backup market data solution. Fewer than a third believed their front-office systems could handle projected 2030 volumes without additional spending.
For banks already using DIGITEC’s tools, DataHub may serve as a practical addition. It doesn’t replace raw data but simplifies how that data enters their systems. The decision for banks will come down to whether they value convenience over building their own integrations or choosing a vendor with a larger footprint.
The provider list offers insight into the platform’s scope. 24X, trading as 24 Exchange, hired a head of OTC market data in December to commercialize its NDF data. LMAX Group, which holds about 20.8% of New Zealand broker BlackBull, participates alongside benchmark provider New Change FX and SGX FX. DIGITEC did not clarify which 24X entity supplies the feed.
Peer Joost took over as CEO in January 2022. He previously stated the company’s 2026 plan included new services for bank clients. DataHub aligns with that strategy, though its growth pace remains uncertain. The company has not identified the four banks using the platform or shared how it will measure success.
DIGITEC operates from Hamburg, with a London office opened in 2021 under former chief revenue officer Stephan von Massenbach. Its move into data distribution reflects a belief that banks will pay for streamlined connectivity—even if they could develop it internally.