Market Data Technology Evolves08.16.2011
Financial firms are discovering alternatives to maintaining costly infrastructure for managing the delivery and distribution of real-time market data.
Products such as NYSE Technologies SuperFeed streamline and enhance delivery of real-time market information from exchanges around the world, while eliminating the cost and complexity of managing in-house ticker plants and performing data maintenance for disparate global market centers.
“The benefits of leveraging SuperFeed versus in-house ticker plants or deploying vendor feed handlers is that our hosted service offers a favorable TCO once you factor in hardware and infrastructure costs, bandwidth costs, support staff and development staff for managing a similar platform,” Chris Zanelli, SuperFeed product manager for North America, told Markets Media.
SuperFeed can be a replacement for in-house ticker plants by sourcing normalized market data from our hosted service instead of acquiring individual raw multicast feeds disseminated by various exchanges.
“For customers requiring the lowest possible latency, generally they look to either build in-house ticker plants or leverage vendor feed handler software, such as our NYSE Technologies enterprise software,” Zanelli said.
“SuperFeed is typically also part of these solutions where customers can create hybrid systems that use deployed ticker plant software at their site for the feed content they require the lowest possible latency for and then bring in out of region market data, or other asset classes via SuperFeed,” he said.
Another typical use case is where customers leverage SuperFeed as a pure disaster recovery backup solution to their deployed NYSE Technologies ticker plant. “This type of flexibility allows customers to right-size their infrastructure spending, to better align their costs with their core strategy,” Zanelli said.
By utilizing data directly from NYSE Euronext’s state-of-the-art liquidity centers in the U.S. and Europe, SuperFeed provides immediate access to NYSE Euronext’s diverse global exchanges alongside data from a range of key global markets including the U.S., Europe and Asia, across the ultra-low latency Secure Financial Transactions Infrastructure (SFTI) network.
“One can think of SuperFeed as a fully hosted market data content service, allowing for flexible solutions involving one or many sources of in region, and out of region, market data from a single source,” said Zanelli. “SuperFeed is one example of a service that members connecting to the community can access.”
Another piece of technology, Data Fabric, is a NYSE Technologies messaging middleware framework that creates a message bus that NYSE Technologies enterprise software uses to communicate – essentially software like feed handlers, value added servers, contribution servers, mid-tier distribution servers, etc.
“SuperFeed leverages Data Fabric internally to create an internal ultra low latency message bus as the core messaging system,” said Zanelli.