Fenics Market Data
Fenics Market Data is the exclusive multi-asset market data distributor for BGC Group, sourcing pricing, Level 2, and historical data directly from 40+ brokerage entities to serve hedge funds, asset managers, banks, and energy traders globally via subscription and channel partnerships.
- Company typePublic
- Founded-
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Fenics Market Data does
Fenics Market Data (FMD) is the exclusive distributor of multi-asset financial and commodities market data for BGC Group, Inc. (NASDAQ: BGC) and its affiliates, including BGC, GFI, RP Martin, Continental Capital Markets, Amerex, Aurel, Sunrise, Remate, Radix, Trident, Poten & Partners, and others. The company sources data directly from BGC's global broking operations across 40+ entities, capturing observable, indicative, and Level 2 order/trade data from electronic, hybrid, and voice execution — a "source-zero" positioning that distinguishes its feeds from scraped or stitched alternatives.
FMD's product portfolio spans Foreign Exchange and Money Markets (spot, forwards, NDFs, FX options across 350+ currency pairs), Interest Rate Derivatives (30+ currencies, 290+ curves), Inflation, Fixed Income, Energy & Commodities (including the newly launched European Power and Gas forward curves and oil data from the acquired OTC Global Holdings), and Equity Derivatives. Data is delivered through multiple formats — ultra-low-latency streaming, intra-day snapshots, end-of-day, and historical — via proprietary platforms (Fenics Direct, Fenics GO, FMX Futures Exchange) and specialty data products (Fenics FX, Fenics US Treasuries, Fenics Repo). The company also offers a regulatory solutions suite supporting FRTB, IPV, ASC Topic 820/IFRS 13, surveillance, and prudent valuation.
FMD operates globally with offices in 10 countries spanning North America, EMEA, APAC, LATAM, and Oceania, serving hedge funds, asset managers, family offices, banks, brokers, energy traders, and the broader institutional market. Revenue is generated primarily through annual subscription-based enterprise licensing with quote-based pricing tailored to client coverage requirements, alongside distribution partnerships with Bloomberg, Reuters, KTH Group, and Broadcast | Agência Estado. The business benefits from network effects inherent to BGC Group's brokerage scale (500+ daily liquidity pools) and has won four consecutive TradingTech Insight Awards for Best Provider of Broker Market Data.
Fenics Market Data firmographics
Firmographics- Name
- Fenics Market Data
- Legal name
- BGC Group, Inc.
- Website
- https://fenicsmd.com
- Company type
- Public
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Fenics Market Data is the exclusive multi-asset market data distributor for BGC Group, sourcing pricing, Level 2, and historical data directly from 40+ brokerage entities to serve hedge funds, asset managers, banks, and energy traders globally via subscription and channel partnerships.
- Ownership category
- akta.pro rank
Fenics Market Data industry classification
Industry- Product category
- Financial Market Data
- NAICS
- Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (5232), Securities and Commodity Exchanges (52321)
- SIC
- Finance Services (6199), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Data Distribution, Connectivity & Market Data Platforms (Entitlements, Normalization, APIs) (FSAFAIAJ)
- akta.pro secondary industries
- Real-Time Market Data Feeds & Terminals (FSAFAIAA), Bond RFQ & Request-for-Stream Platforms (FSAFACAG), FX Request-for-Quote (RFQ) Venues (FSAFADAI), Reference Data & Static Data Operations (SSI/Instrument/Client Data) (FSACALAJ)
Keywords
Where Fenics Market Data is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices9 records
Markets served
Fenics Market Data business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Market Data Licensing and Subscriptions: Fenics Market Data operates as the exclusive distributor of data for BGC Group and its affiliates, providing licensed access to multi-asset market data packages including real-time pricing, historical data, and analytics. Revenue is generated through subscription-based licensing agreements with financial institutions.
- Data Distribution Partnerships: Distribution of market data through third-party vendor platforms and direct delivery mechanisms. Data is delivered through multiple formats including streaming, snapshots, and end-of-day data.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise licensing with comprehensive multi-asset data coverage |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels5 records
Fenics Market Data product offering
Product offeringCore offering
Fenics Market Data (FMD) is the exclusive distributor of data for BGC Group, Inc. (NASDAQ: BGC) and its affiliates, sourcing market data directly from BGC Group's global broking operations, electronic and voice trading platforms, and regulated trading venues. It provides multi-asset market data across Foreign Exchange, Interest Rate Derivatives, Inflation, Fixed Income, Energy & Commodities, and Equity Derivatives, delivered via streaming, intra-day, end-of-day, and historical formats, with additional regulatory compliance solutions.
Product overview
Fenics Market Data is a multi-asset financial market data platform serving the global OTC markets. The portfolio is organized around several interconnected platforms and data products including FMX Futures Exchange, Fenics Direct, Fenics GO, and specialized data verticals covering Foreign Exchange, Interest Rate Derivatives, Inflation, Fixed Income, Energy & Commodities, and Equity Derivatives. Data is delivered across multiple formats including real-time streaming, intra-day, end-of-day, and historical, with both pricing/modelled curves and orderbook/Level 2 data available. The platform also includes Regulatory Solutions supporting compliance with FRTB, IPV, and other regulatory requirements. Data is sourced directly from BGC Group's global brokerage operations across 40+ entities, providing observable market data rather than model-based proxies.
Differentiator
Problem solved
Functional benefit
Products and services
- FMX FMX Futures Exchange platform providing futures trading capabilities.
- Fenics Direct Direct trading and data access platform for Fenics Market Data services.
- Fenics US Treasuries US Treasury market data solutions.
- Fenics Repo Repo market data solutions.
- Fenics FX Foreign exchange market data covering spot, forwards, NDFs, implied yields, and FX options.
- Fenics GO Trading and data platform for global markets.
- Foreign Exchange and Money Markets Data Real-time FX and money markets data covering spot, forwards, NDFs, FX options, with over 350+ currency pairs priced, available as pricing/modelled curves and orderbook/Level 2 data.
- Interest Rate Derivatives Data Global interest rate markets data covering linear products (IRS, OIS, cross currency swaps, basis swaps, FRAs, futures) and non-linear products (swaptions, cap/floors, constant maturity swaps) across 30+ currencies and 290+ curves.
- Inflation Data Inflation derivative data including asset swaps, inflation swaps, inflation fixing swaps, ZC and YoY caps/floors, and inflation linked bonds.
- Fixed Income Data Fixed income market data covering US government notes and bonds, US Treasury futures, global government bonds, corporate bonds, and credit default swaps.
- Energy & Commodities Data Comprehensive energy and commodities data covering crude and refined products, environmental markets, natural gas, power, agricultural products, base and precious metals, and weather derivatives.
- Equity Derivatives Data Index options data for equity derivatives market coverage.
- Regulatory Solutions Compliance and regulatory reporting solutions supporting surveillance, valuations (ASC Topic 820, IFRS 13), prudent valuation, independent price verification (IPV), FRTB, and evidential order and trade insights.
- Power & Gas Forward Curves Hourly European Power and Gas forward curves powered by GFI liquidity, derived from real executable trading activity and broker-calibrated market observations for valuation, risk measurement, P&L attribution, model governance, mark-to-market valuation, stress testing, hedging analysis, and regulatory reporting.
Companies that use Fenics Market Data
Customer profileSegments5 records
Ideal customer profiles4 records
Fenics Market Data technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Fenics Market Data partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Hedge Funds ClubminorFenics Market Data partnered with the Hedge Funds Club for a series of industry events connecting senior hedge fund leaders across global markets. The partnership provides a trusted forum for networking, insights, and industry collaboration.
- KTH GroupcoreFenics Market Data partnered with KTH Group to empower the Brazilian investment management community with robust tools to navigate volatile markets. KTH's cloud-native platform unifies portfolio management, risk, and compliance. FMD's OTC data is integrated into the platform, enhancing risk analytics and portfolio management capabilities for asset managers, family offices, and institutional investors in Brazil.
- Broadcast | Agência EstadocoreFenics Market Data partnered with Brazil's leading provider of real-time news to bring high-quality global market data to Latin America's most trusted platform, Broadcast+. The partnership enables thousands of professional users via Broadcast+ terminals across Brazil to access FMD's OTC market pricing and reference data, expanding market access and real-time data integration.
- MontelminorFenics Market Data partnered with Montel for German Energy Day, engaging with the energy market community on independent ECS data, deep market expertise, and scalable delivery to navigate volatility across power, gas, and environmental markets.
- OTC Global Holdings (Oil Brokerage Ltd)coreThrough the acquisition of OTC Global Holdings including Oil Brokerage Ltd (OB & OBX Data), FMD expanded its reach and expertise in global commodities markets, cementing its position at the core of global oil market coverage from crude to refined products.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
Fenics Market Data competitors and assessment
Company assessmentBroad incumbents
- MSCI: Provides market data, indices, and analytics to asset managers and hedge funds. Overlaps with FMD in equity derivatives data and institutional risk analytics use cases.
- S&P Global Market Intelligence: Provides cross-asset market data, reference data, and valuation services to financial institutions. Competes with FMD across fixed income, commodities, and regulatory valuation use cases.
- CME Group: Derivatives exchange operator distributing market data across rates, FX, commodities, and equities. Competes with FMD in listed-derivative data and adjacent OTC instruments.
- ICE (Intercontinental Exchange): Exchange operator and market data vendor (including Interactive Data and ICE Data Services). Competes with FMD in commodities and fixed income data, with parallel regulatory solutions offerings.
- LSEG (London Stock Exchange Group / Refinitiv): Operates the Refinitiv market data franchise serving the same institutional buy-side and sell-side segments as FMD. Overlaps across FX, rates, fixed income, and commodities with deeper asset coverage and longer client relationships.
- Bloomberg L.P. Global leader in financial market data terminals and analytics. Competes with FMD across FX, rates, fixed income, and commodities data, but operates at vastly larger scale with integrated trading, news, and messaging capabilities.
Direct peers
- FactSet: Multi-asset data and analytics platform for asset managers and hedge funds. Directly comparable customer base, asset-class coverage, and analytics positioning to FMD's institutional segments.
- SIX Financial Information: European-based reference and pricing data provider serving the same institutional customer base. Direct overlap with FMD across FX, rates, fixed income, and regulatory data use cases.
- TP ICAP: Major interdealer broker that also distributes market data from its own broking operations—directly analogous to FMD's source-zero positioning. Overlaps across rates, FX, and commodities.
- ION Group: Financial markets infrastructure and data provider serving capital markets participants. Comparable in scope of market data products and institutional customer base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Fenics Market Data social profiles
Digital presenceFenics Market Data compliance and trust
Trust signalCompliance3 records
Fenics Market Data financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fenics Market Data leadership team
Management profileNumber of profiles
Profiles1 record
Fenics Market Data subsidiaries and ownership
Company hierarchySubsidiaries16 records
Fenics Market Data funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fenics Market Data M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fenics Market Data
What does Fenics Market Data do?
Fenics Market Data (FMD) is the exclusive distributor of data for BGC Group, Inc. (NASDAQ: BGC) and its affiliates, sourcing market data directly from BGC Group's global broking operations, electronic and voice trading platforms, and regulated trading venues. It provides multi-asset market data across Foreign Exchange, Interest Rate Derivatives, Inflation, Fixed Income, Energy & Commodities, and Equity Derivatives, delivered via streaming, intra-day, end-of-day, and historical formats, with additional regulatory compliance solutions.
Is Fenics Market Data a public or private company?
Fenics Market Data is a public company. It is classified as corporate owned and is currently operating.
When was Fenics Market Data founded?
Fenics Market Data was founded in -1. It employs 11 to 50 people.
Where is Fenics Market Data based?
Fenics Market Data is headquartered in New York, United States, in the North America region.
How does Fenics Market Data make money?
Two revenue lines are on record. Market Data Licensing and Subscriptions are the primary driver. The others are data Distribution Partnerships.
Who are Fenics Market Data's main competitors?
Broad incumbents on record are MSCI, S&P Global Market Intelligence, CME Group, ICE (Intercontinental Exchange), LSEG (London Stock Exchange Group / Refinitiv) and Bloomberg L.P.. Direct peers are FactSet, SIX Financial Information, TP ICAP and ION Group.
Does Fenics Market Data have an API?
No public API is recorded for Fenics Market Data.
What industry is Fenics Market Data in?
Fenics Market Data's product category is Financial Market Data. Its primary akta.pro industry code is FSAFAIAJ, Data Distribution, Connectivity & Market Data Platforms (Entitlements, Normalization, APIs), with a secondary code of FSAFAIAA, Real-Time Market Data Feeds & Terminals. Its NAICS code is 523210 and its SIC code is 6199.