05.03.2012
By Terry Flanagan

Six Financial Makes Big Data Play

Six Financial Information, formerly Six Telekurs, continues to overhaul its data service provision as it looks to make better sense of the ever growing financial information that is churned out by global markets.

The Zurich-based firm, the third largest financial data vendor in Europe behind Bloomberg and Thomson Reuters, has announced two deals that will allow it to process more easily the increasing volumes and complexity of information in the financial markets.

The most recent, with Asset Control, a New York-based provider of financial data management solutions and services, will see Six Financial Information use Asset Control’s AC Plus solution as its core reference data processing platform.

“We are sourcing and supplying an unprecedented amount of data to the financial markets and it’s clear that the increased requirements for data we have witnessed in the past few years will only continue,” said Thomas Gross, chief executive of Six Financial Information.

“By implementing a specialist solution, such as Asset Control’s, we are benefiting from specific and proven technology and expertise, and a collaborative partnership. This, alongside the platform’s processing capacity and scalability, effectively future proofs us against the further growth in data volumes and breadth we are bound to witness.”

Its other solution is to turn to OneMarketData, a New York-based financial analytics provider, to use its OneTick database as Six Financial Information’s central repository for storing and running analytics on all global tick data. A tick is the upward or downward movement in the price of a security.

“This is a big strategic move in tick data, it hasn’t really been done before,” Leonid Frants, chief executive of OneMarketData, told Markets Media at WBR’s recent Trade Tech Europe 2012 industry event in London.

Six Financial Information is updating its existing core architecture to better gather information from all the world’s major trading venues, collecting effectively every tick in the world—directly and in real time—as the firm processes and provides structured and encoded securities administration data for more than nine million financial instruments.

“Six Financial Information collects data directly from hundreds of exchanges and contributors around the world. In order to stay on top of the growing amounts of information, our data platforms and systems must evolve with the times,” said Gross at Six Financial Information. “OneTick is a critical part of our new architecture as it allows Six Financial Information to keep pace with, and make sense of, the ever expanding quantity of market data that must be processed and refined for our customers.”

Frants at OneMarketData says its OneTick product can be used to dissect the ‘Flash Crash’ in the U.S. equity market in May 2010, when the Dow Jones Industrial Average plunged almost 1,000 points, only to recover its losses within minutes.

“Everyone was pulling their hair out as to why it happened,” he said. “To understand why it happened you need to look at tick by tick data.”

Frants added: “Six Financial Information choosing OneTick as its global solution is a testament to OneTick’s unsurpassed ability to capture, compress and archive all market data globally.”

Phil Lynch, president and chief executive of Asset Control, said: “Financial services firms, no matter what their role, need to have the most comprehensive infrastructure in place to support the management of financial information.”

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