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Updata – Third Party Data Services Comparison

With Updata Analytics being compatible with so many different data services, we are frequently asked which ones are best. The reality is that every service comes with its own set of pros and cons. Based on our experience of what Updata clients tell us, these are our ratings below. More in depth information on breadth of coverage, price histories, data accuracy, speed and pricing options are given below.

Version column indicates which Updata Versions are compatible, L = Lite, H = Home, P = Professional, E = Enterprise

Narrow down this list Here:

Brief Description Breadth Speed Value Overall Tab Version Demo
Market Terminals
Bloomberg Industrial standard, global coverage ***** **** ** *** E,P P,E icon
Money.NET Low cost option, US focus *** *** ***** **** P H,P,E icon
TeleTrader Good European coverage *** *** ***** **** H,U H,P,E icon
Thomson Reuters Eikon Global coverage, strong on energy ***** *** *** *** E,P P,E icon
Trading Platforms
GDAX * Top Crypto currency platform ** **** ***** **** H L,H,P,E icon
Interactive Brokers Low cost global execution ***** *** ***** *** H,U H,P,E icon
SaxoTrader FX strength and Energy futures *** **** ***** **** E,H H,P,E icon
Trayport Industrial standard for EU OTC Energy ** **** ** *** E E icon
DataFeeds
Barchart Low cost option, US focus **** *** *** *** H,U H,P,E icon
BarchartFree* Free service to rival web giants ** *** ***** *** H,U H,P,E icon
DTN IQ Feed Very fast, futures, US and UK stocks ** *** ***** **** E,P,H,U H,P,E icon
IEX* Free real time US stocks ** ***** ***** **** H H,P,E icon
Metastock Xenith Our top rated data service for Updata Home users ***** **** ***** ***** H,U H,P,E icon
Montel European Energy, Nordics strength ** *** **** *** E H,P,E icon
TrueData Indian stock coverage ** *** **** *** H H,P,E icon
Yahoo Finance* Free global coverage, variation **** ** ***** *** H,U L,H,P,E icon
Databases
ArgusMedia Industrial standard, global commodities **** ** ** *** E E
Datagenic Energy Trading Risk Management **** ** ** ** E P,E icon
Global Financial Data Very long data histories *** ** ** ** P P,E icon
Lilac Energy Point Carbon historical database ** ** ** ** E P,E icon
Platts Industrial standard, global commodities **** ** ** *** E E icon
Quandl* Big data with free and paid services **** *** **** **** P H,P,E icon
Datastream Industrial standard, global coverage ***** **** ** *** P P,E icon

* providers offer free data with no signup requirement

Metastock Xenith DataFeed

Metastock Xenith is effectively the retail version of the powerful Thomson Reuters professional system. You have to be a non-professional user, otherwise you must use Thomson Reuters Eikon. But for private users, this truly is the same system that market professionals use but for a fraction of the price.

The main benefits are:

  • • Full price histories including intra-day and coverage on over 70,000 listed companies globally
  • • Reuters news from 2,600 full time journalists in 200 locations
  • • Over 40 million items of research and fundamentals coverage

Pricing
Base service – global coverage delayed with real time news and FX $99 per month $1,069 per annum
Real Time region – US, Europe, Asia ($150pm, $1620pa +exchange fees)
Add a region (ie UK+US) add $75pm

Summary
The Metastock Xenith data service is second to none with its vast global coverage for Updata Home users. The data histories are clean and accurate given their source is Thomson Reuters. There is no physical limit for Updata users in terms of universes to scan (other than computer spec) data histories. Updata Home users can follow professional services like Charts Today as Metastock Xenith codes all map to Thompson Reuters Eikon. Given all of this is available for as low as $99 per month, Metastock Xenith represents outstanding value and deserves our 5 star rating. Star Rating: ***** – Watch demo Here

Sign up for Metastock Xenith – 3 months for the price of 1 - HERE



Market Terminals

Market Terminals are generally considered to be all screaming, all dancing, covering all the bases of data and front end, including charting, BUT many users of these terminals add Updata Analytics for better and normally faster (with Updata’s caching) charting, better technical scanning and backtesting along with report and presentation generation. On top of this Updata Analytics can bring any of the Market Terminals together with trading platforms, data feeds and databases.

Bloomberg Professional Terminal

Bloomberg is the industrial standard market terminal used by market professionals globally. Updata Analytics runs on the desktop API and is very well integrated to Bloomberg’s functionality. There is a limit of around 1,500 instruments in Updata real time, but list of unlimited length can be built on end of day data. The main advantages for Updata users are speed and data accuracy. Intra-day histories are not very long in length for backtesting, but Updata’s caching mechanism means these do grow longer over time.

The main benefits are:

  • • Full price histories including intra-day and global coverage on virtually anything
  • • News from 2,700 full time journalists in 120 countries
  • • High speed data retrieval and accuracy

Pricing
Around $2,200 per user per month

Summary
Bloomberg’s global coverage is only really rivalled by Thomson Reuters. The data histories are clean and accurate. There is a physical limit for Updata users in terms of universes to scan in real time, but this is outweighed by speed. While Bloomberg is probably the best, more and more Updata users are looking for lower cost alternatives. The high price point means it scores lower on value for a service to purely feed charting, hence our 3 star rating. Star Rating: *** – Watch demo Here

Money.NET

Money.NET is a New York based upstart to Bloomberg. The service is market terminal running in a browser and Updata runs on the Money.NET API.

The main benefits are:

  • • US markets at $150 per user per month
  • • Runs in a browser reducing IT install etc
  • • Various news services and widgets

Pricing
$150 per user per month plus exchange fees for real time

Summary
If US markets is all you need, Money.NET is a viable alternative to the more expensive market terminals. Data history is clean and reliable. The service proposition seems to be increasing all the time as well. Money.Net scores highly on the price, hence our rating of 4 stars. Star Rating:**** – Watch demo Here

TeleTrader

TeleTrader is an Austrian based data firm providing trading applications, web-based solutions and mobile apps. The service provides excellent Eurozone coverage. London Stock Exchange prices are only available delayed and FTSE Indices are not offered. The data quality is fast and reliable although there are limits to the number of live symbols.

The main benefits are:

  • • Full price histories including intra-day on European stocks, FX, Commodities and US stocks
  • • Various basic news services free plus others for additional fees
  • • Useful free phone apps

Pricing
From €69 per month, all markets delayed – real time available for extra plus exchange fees

Summary
TeleTrader is a good option for those that only need delayed UK stock prices or real time continental Europe and US markets. The FX and commodities coverage is good free apps are useful. The big issue for UK investors is no real time LSE and no FTSE indices, but the price is low leading us to 4 stars. Star Rating: **** – Watch demo Here

Thomson Reuters Eikon

Thomson Reuters Eikon rivals the Bloomberg terminal with its extensive global coverage. Bloomberg’s desktop API is faster, but Eikon doesn’t have an instrument limit. Data accuracy is good with long histories both daily and intra-day. Thomson Reuters has particular strength in FX and Energy and commodity markets.

The main benefits are:

  • • Full price histories including intra-day and coverage on over 70,000 listed companies globally
  • • Reuters news from 2,600 full time journalists in 200 locations
  • • Over 40 million items of research and fundamentals coverage

Pricing
Less rigid than Bloomberg with pricing options ranging between $300 to $1,800 per month for bare bones to fully loaded.

Summary
Thomson Reuters Eikon is world class with its vast global coverage. The data histories are clean and accurate. There is no physical limit for Updata users in terms of universes to scan (other than computer spec) data histories. Most Updata energy clients use Thomson Reuters Eikon. Bloomberg has an edge on speed, but Eikon is more flexible, so we give it the same 3 star rating. Star Rating:*** – Watch demo Here

Trading Platforms

Most trading platforms are lacking when it comes to technical analysis. Some may have basic charts, but for most traders this is inadequate. Updata Analytics brings full technical automated trading and backtesting to these platforms. Many of these platforms are limited to trading particular markets, so Updata Analytics can bring the extra dimension of adding Market Terminals, data feeds and databases to assist with trading decisions.

GDAX

GDAX is the leading crypto currency platform from US based Coinbase. The Updata Analytics integration to GDAX allows user to draw long chart histories and for these to build on their own computer. Also because these markets are traded 24/7, the charts are more accurate than the crypto currency feeds from many data vendors.

The main benefits are:

  • • Full real time prices and charts – 24/7/365 trading
  • • Price histories including intra-day on GDAX crypto currencies
  • • Set alerts and technical trading strategies to trade to GDAX

Pricing
Free with GDAX account

Summary
GDAX is a great solution for those that want to conduct advanced analytics, set technical alerts or backtest and execute trading strategies. 4 stars. Star Rating:**** – Watch demo Here

Interactive Brokers

Interactive Brokers offers the one of the lowest cost execution only services across a wide range of markets globally. Updata Analytics connects to IB allowing users to chart a limited amount of daily and intra-day price histories. IB’s big advantages are cost and breadth of markets available for execution.

The main benefits are:

  • • Wide range of global markets available for low cost execution
  • • The ability to chart and execute on these markets

Pricing
Free with IB account

Summary
The Interactive Brokers trading platform’s big advantages are breadth of markets and low cost execution. The history is a bit limited but it’s data you can trade on. 3 stars. Star Rating:*** – Watch demo Here

SaxoTrader

SaxoTrader from Copenhagen based Saxo Bank offers high speed FX trading and CFDs. Updata Analytics lets Saxo clients conduct more in-depth technical analysis, set complex trading alerts and backtest and execute trading strategies. Trading in precious metals, CFDs and EU Energy contracts in gas and power.

The main benefits are:

  • • Full price histories including intra-day FX, precious metals, CFDs and EU energy contracts
  • • Set different order types from Updata Analytics

Pricing
Free with SaxoTrader account

Summary
The Updata Analytics integration has been built over two years in close collaboration with Saxo Bank. This offers one of the best solutions for trading Forex, Currencies, gas and Power - 4 stars. Star Rating:**** – Watch demo Here

Trayport

Trayport is the industry standard for trading European OTC Energy contracts – Gas, Power, Coal and Emissions. Most firms using this platform rely on Updata Analytics for technical analysis of these markets. Updata is fully integrated to the latest Trayport Joule Direct Platform and can be accessed directly from Trayport with RH clicks. Updata Analytics offers continuous contracts and configurable rollover settings. Market Terminals, low cost data feeds and databases such as Argus and Platts can be added.

The main benefits are:

  • • Advanced technical analysis of OTC energy contracts
  • • Continuous contracts and Rollover configuration
  • • Combine exchange traded instruments for spreads from other sources

Pricing
Price on application

Summary
Trayport is the standard for European Energy trading making it the ‘must have’ for serious gas and power traders. The platform is highly specialised and therefore highly priced. Updata Analytics offers a solid integration, but automated trading of energy is not currently as seamless as with Saxotrader. Given this and the price our rating for Updata users generally, is 3 stars. Star Rating:*** – Watch demo Here


Data Feeds

We class Data Feeds as data services that have less functional front ends. These tend to be more raw real time price and/or price history services which often makes them a more cost effective option for Updata users. Updata Analytics brings better charting, technical scanning and backtesting along with report and presentation generation. Data feeds are also ideal for adding some extra data cost effectively, that may not be covered with Trading Platforms.

Barchart

Barchart are based in Chicago and renown for the commodities data, particularly in softs and ags. They come with a strong US focus, covering US equity markets as well. London Stock Exchange is only covered delayed, but Barchart is ideal for those wanting US stocks and indices or professionals wanting commodities. Where Barchart scores well is how they do their pricing by number of instruments, starting as low as $49 per month plus exchange fees. Let’s say you are a professional energy trader, you can add Nymex or ICE (US or Europe) for as littles as $49 a month if you only want a handful of instruments.

The main benefits are:

  • • Full price histories including intra-day on virtually anything US related
  • • High speed data retrieval and good accuracy
  • • Low pricing for smaller numbers of real time instruments, with the rest of data delayed. Easy sign up.

Pricing
100 instruments $49 per month, plus exchange fees
200 instruments $69 per month, plus exchange fees
500 instruments $99 per month, plus exchange fees

Summary
Barchart is a very cost-effective way of adding just the data you need, but lacks European coverage, hence our 3 star rating. Star Rating:*** – Watch demo Here

Barchart Free

BarchartFree was introduced as a dedicated free service after services such as Google Finance were discontinued as viable web based free data feeds.

The main benefits are:

  • • Managed price delivery and histories to feed Updata for Free
  • • An easy service to add to your existing third-party services in Updata Analytics

Pricing
Free

Summary
A basic service, but it is free – 3 star rating. Star Rating:*** – Watch demo Here

DTN IQ Feed

DTN, based in Minneapolis also comes with a strong background in grains. DTN added London stock Exchange data in 2016 to service Updata Analytics clients and this is probably still the most cost effective real time LSE data feed there is. DTN IQ feed’s base cost is $82 per month plus exchange fees. And the feed is probably one of the fastest out there. DTN also have an FX feed with basic news for as little as $30 a month. DTN IQ feed is also an excellent option for Energy Traders looking for exchange data.

The main benefits are:

  • • US and UK markets real time among the most cost effective
  • • Very fast low latency feed
  • • Sign up is very straightforward

Pricing
From $82 per month plus exchange fees for real time

Summary
DTN IQ Feed is probably one of the best options for UK and US exchanges in real time price wise, though symbol limits and lower global coverage may deter some users. Horses for courses, but this is a deserved 4 Star rating.Star Rating:**** – Watch demo Here

IEX

IEX a US stock exchange to rival NYSE and Nasdaq. This data feed offers free real time prices for free. Liquidity in the larger capitalisation stocks is higher meaning prices and histories are almost exactly the same as for the large exchanges. Smaller capitalisation stock may show more of a variation.

The main benefits are:

  • • Free real time US stock prices
  • • Fast price updates
  • • Fast and reliable price histories

Pricing
Free

Summary
IEX is a brilliant data feed for those wanting to track US stocks in real-time. If only there was the equivalent in the UK. 4 Star rating.Star Rating:**** – Watch demo Here

Montel

Oslo based, Montel carries European Energy data as part of its subscription web services and offers this as a data feed for Updata Analytics to plug into. This is a good option for European energy traders wanting real time exchange data for just Nordpool, ICE Europe and EEX. Montel’s energy news is also highly focused for this community.

The main benefits are:

  • • Very focused towards European energy traders
  • • A good alternative and unique European energy news service

Pricing
Price on application, in line with Montel subscription charges.

Summary
Montel’s price feed is a good option for those that just want European energy data - 3 star rating.Star Rating:*** – Watch demo Here

TrueData

TrueData covers the Indian stock market is an ideal solution for Indian investors.

The main benefits are:

  • • Focused for the Indian stock market investor
  • • Very cost effective

Pricing
Around IR 1,000 ($14) a month

Summary
A very cost effective service, reflecting the price sensitive Indian market - 3 star rating.Star Rating:*** – Watch demo Here

Yahoo Finance

Yahoo Finance is primarily designed for viewing basic pricing and charts on the internet, but this data can be pulled into Updata Analytics for free.

The main benefits are:

  • • A wide range of global markets covered
  • • The data is free

Pricing
Free

Summary
Because the service is free, quality and continuation of service is never guaranteed, but it works - 3 star rating.Star Rating:*** – Watch demo Here


Databases

Databases that Updata connect to are generally not real time and cover a vast amount of historical data. Updata Analytics offers a very cost-effective way to view this data and cross compare it with other data sets. This can also bring alternative data sets to investors, traders and middle office professionals to assist with decision making and risk management. In nearly all cases pricing is on application based on what data is required.

Argus Media

Summary
Argus is a leading provider of price assessments, business intelligence and market data for the global energy and commodities markets. Implementation to Updata Analytics – 3 stars. Star Rating:***

DataGenic

Summary
DataGenic is a globally recognised provider of award-winning and innovative commodity data management and decision analytics solutions. Implementation to Updata Analytics – 2 stars.Star Rating:** Watch demo Here

Global Financial Data

Summary
Economic and financial time-series database covering 150 countries and 6,500 different data series. Data on stock markets available from 1690, exchange rates from 1590, interest rates from 1700, commodities from 1500, and inflation from 1264. Implementation to Updata Analytics – 2 stars.Star Rating:** Watch demo Here

Lilac Energy

Summary
Analysis and decision support solutions for energy traders, and for coal, gas and biomass generators. Implementation to Updata Analytics – 2 stars.Star Rating:** Watch demo Here

Platts

Summary
S&P Global Platts is the leading independent provider of information, benchmark prices and analytics for the energy and commodities markets. Implementation to Updata Analytics – 3 stars. Star Rating:** Watch demo Here

Quandl

Summary
The premier source for financial, economic, and alternative datasets, serving investment professionals. Implementation to Updata Analytics – 4 stars.Star Rating:**** Watch demo Here

Datastream

Summary
Datastream is a global financial and macroeconomic data platform covering equities, stock market indices, currencies, company fundamentals, fixed income securities and key economic indicators for 175 countries and 60 markets. Implementation to Updata Analytics – 3 stars.Star Rating:*** Watch demo Here

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