Thomson-Reuters’ EPX provides asset calls-agnostic information delivery technology.

Exchanges are leveraging new technology for data distribution to drive revenue and attract additional order flow, as they cope with regulatory mandates, downward pressure on transaction revenue, and the need to support high-frequency trading strategies.

That’s the impetus behind Thomson Reuters’ recently-launched Enterprise Platform for Exchanges (EPX), an asset class-agnostic, high-performance data platform that supports creation and distribution of exchange information services.

“EPX helps exchanges make the most of their information assets,” Terry Roche, global head of Elektron real-time and Enterprise Platform at Thomson Reuters, told Markets Media.

“Whether you want to attract HFT flow with low latency feeds and services, create new value-added data feeds, distribute data from a new market, or launch a new series of indexes — EPX allows you to do that,” he said.

The platform supports all exchange information services, from low-latency raw order book feeds used by high-frequency traders, through to conflated feeds carrying enriched content such as news, analytics, indexes and reference data for vendor redistribution and to power data display applications, according to the company.

EPX’s raison d’etre is to enable exchanges to respond to new business and regulatory drivers for low-latency feeds, enriched content, enhanced delivery channels and new data workflows.

“EPX is completely extensible and supports data workflows in any asset class, so if an exchange is looking to trade or clear a new asset class,  it’s the ideal platform,” Roche said.

It also allows exchanges to respond to regulatory-driven changes in market structure and requirements for tighter market supervision.

For supervision, EPX creates an audit log for every message, allowing exchanges to monitor trading activity on their own platforms, but also allows them to aggregate data from competing venues and off-exchange trade reports to get a full view of the market, Roche said.

In addition to EPX data distribution technology, exchanges can also leverage Thomson Reuters Elektron to expand global connectivity and build out an ecosystem of high-performance application, data and infrastructure solutions tailored for high-frequency trading firms co-located or remote from the Elektron data centers.

Thomson Reuters has always maintained a close partnership with exchanges and trading venues.

“We carry real-time data from more than 350 markets, and help control and administer all of that content globally,” said Roche. “As a leading provider of data technology to securities trading firms, it was a natural extension to expand our technology platform to serve our exchange partners.”