Keeping it simple: market data management made easy …
New York start-up Simplified Financial Information is piloting a market data analytics system prior to release later this summer. The firm is also developing a system intended to provide trading organisations with a better understanding of how their applications and strategies respond to volatile market conditions, scheduled for launch in Q4.
SFI’s systems are based on the TipOff monitoring system developed by UK company TS-Associates to provide metrics in trading systems where latency is a particular issue. SFI has adapted the network and data flow monitoring capabilities of Tipoff to create a platform for a range of products that capture, analyse and report market data message and transaction flow.
The company was formed earlier this year by market data industry veteran Emilio Mercado, who is chief executive. Another well-known financial technology figure, Barry Thompson, the founder of trading systems vendor Tervela, is chairman.
Handling of market data in investment houses is a considerable expense, and often wasteful as data is duplicated across feeds from different information vendors. Diverse formats complicate the issue, and testing of new systems becomes problematic, said Mercado.
Mercado declined to name the “major international bank” – understood to be RBC – which is currently piloting the system.