DETROIT, Jan. 17, 2019 /PRNewswire/ -- Benzinga announced today that it will be teaming up with Tidal Markets, a volatility data provider, to deliver the Securities Lending Volatility Indicator (SLVX).
This new product forecasts market volatility for the broader indices and individual securities in a unique way. By calculating the spread of rebate rates when borrowing a position to short sell, the indicator can predict movements without relying on the older, more traditional VIX. Before markets get turbulent, the spread in rebate rates grows and the SLVX anticipates the incoming volatility.
Benzinga will feature the SLVX's movements and other news occasionally through its website and platform. The product will be white labeled as the 'Benzinga SLVX'. The raw data feed will be available to clients through Benzinga's licensing team.
Aspects of the SLVX include:
- Coverage for global equities
- 8 years of history (Since 2010)
- Daily pre-market delivery via FTP
"The SLVX presents a unique approach to anticipating volatility in stocks, and the simplicity of its output allows it to be utilized in a variety of trading strategies. This exclusive partnership will advantageously position us to provide quality data to a growing market," said Benzinga's VP of Data Operations, John Bolton. "We're excited to use our skills as a data distributor and media company to deliver the SLVX in a streamlined & engaging way to our clients."
"I'm excited for the opportunity to partner with Benzinga," states Tidal Market's Managing Principal, Christopher Sappo. "The ability to utilize a new instrument for detecting volatility, especially in such recent volatile times, demonstrates the value-add the SLVX has to the investment community. For so long, investors have relied on byproducts of the VIX as the sole indicator for detecting volatility - and that's about to change."
Read more about Benzinga's market and alternative data APIs at cloud.benzinga.com
About Tidal Markets:
Tidal Markets LLC is a data research firm focused on the securities lending markets. As a research practice, we amalgamate securities lending transactional data and study its correlation to market activity. Our research and data service offering enable lending agents, brokerage firms, hedge funds, asset managers, and equity traders with a unique perspective to interpret securities lending market volatility and its implications. Tidal Markets research is available on a request basis only, unless publicly disclosed at the discretion of the company. Tidal Markets also provides end-of-day and intraday data file offerings on a subscription basis.
Benzinga is a dynamic and innovative financial media outlet that empowers investors with high-quality, unique content that is sought after by Wall Street's top traders. Benzinga provides timely, actionable ideas that help users navigate even the most uncertain and volatile markets – in real-time with an unmatched caliber.