Data Management Special Report
Total Page:16
File Type:pdf, Size:1020Kb
waterstechnology.com Data Management Special Report trading technologies for financial-market professionals Sponsored by: June 2011 waterstechnology.com June 2011 June-Data-Management-Cover.indd 2 02/06/2011 12:23 STL_Util ad_Waters 20/5/11 15:52 Page 1 With more than 1,500 clients, including the world’s top 10 banks*, we know what it takes to support the industry’s leaders. Redefining post trade operations globally Card Processing Cash & Liquidity Management SmartStream delivers highly flexible and innovative transaction Compliance Management processing software that supports critical operational infrastructures: Corporate Actions Processing from industry-leading reconciliations and cash management solutions ETD/OTC Derivatives Processing to reference data management services. Fees Invoice Management Reconciliations ® Our TLM solutions enable you to rapidly respond to changing market Reference Data Management demands – where efficiency, risk, cost and compliance are the new Trade Finance industry watch words. Trade Process Management See what we can do for your organisation, contact SmartStream today: Treasury Confirmations +1 (866) 603-1893 (Americas) +44 (0)800 279 5465 (UK) +65 6 224 76 89 (Asia Pacific) [email protected] * The Banker, July 2010 smartstream-stp.com Untitled-1 1 6/2/11 12:01 PM Editor-in-Chief Victor Anderson [email protected] tel: +44 (0) 20 7316 9090 Online and US Editor Rob Daly [email protected] tel: +1 646 490 3968 Deputy Editor, Buy Side Anthony Malakian [email protected] Deputy Editor, Sell Side Michael Shashoua [email protected] European Reporter Sitanta Ni Mathghamhna [email protected] Head of Editorial Operations Elina Patler [email protected] Contributors Max Bowie, Editor, Inside Market Data Tine Thoresen, Editor, Inside Reference Data Publishing Director Lee Hartt [email protected] tel: +44 (0) 20 7316 9443 Commercial Director Jo Garvey [email protected] Expanding the data toolbox tel: +1 646 736 1840 US Business Development Manager Melissa Jao [email protected] European Business Development Manager Robert Alexander here is an old saying that goes: “If you only have a hammer, everything looks [email protected] Senior Marketing Manager Claire Light like a nail.” Basically, if you tie yourself to one approach, your results are going [email protected] to be very limited at best. Design Lisa Ling T [email protected] In today’s market, financial services firms are finding themselves having more in Chief Executive Tim Weller common with search engines, social media sites and national governments: they all Managing Director John Barnes need to manage and analyze exabytes and petabytes of data on a regular basis, but Head Office the trusty relational databases that they have relied on for so long are just not keeping 32-34 Broadwick Street London up with their users’ demands to manage “big data” these days. W1A 2HG, UK Twin forces are driving the desire for improved data management and the enterprise Incisive Media US scale. First, there are new ways to analyze structured and unstructured data that previ- 55 Broad Street, 22nd Floor, New York, NY 10004- 2501 ously had not been collected in order to find new potential alpha, such as social media Tel: +1 646 736 1888 Fax: +1 646 390 6612 sentiment and other unstructured data. And second, there is the increasing demand from regulators that requires market participants provide more transparency around Incisive Media Asia 20th Floor, Admiralty Center, Tower 2, 18 Harcourt Road, their transactions by providing more data to the regulators. Admiralty, Hong Kong, SAR China tel: +852 3411 4888, fax: +852 3411 4811 In this special report, Waters speaks with leading broker-dealers and vendors to discuss how firms can address these issues and what they would like to see in the next Subscription Sales Gillian Harker Tel: +44 (0)20 7968 4618 generation of data management tools, and touches on the best strategies to implement Dominic Clifton Tel: +44 (0)20 7968 4634 [email protected] data integration and standardization. n Incisive Media Customer Services c/o CDS Global, Tower House Rob Daly, Online and US Editor Sovereign Park, Market Harborough LE16 9EF, UK Tel: 0870 787 6822 (UK) Tel: +44 (0) 1858 438 421 (overseas) [email protected] Waters (ISSN 1068-5863) is published monthly (12 times a year) by Incisive Media. Printed in the UK by Wyndeham Grange, Southwick, West Sussex. ©Incisive Media Investments Limited, 2011. All rights reserved. No part of this publication may be reproduced, Sell Side stored in or introduced into any retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the copyright owners. June-Data-Management-Report.indd 1 02/06/2011 12:22 Special Report Data Management Cisco Optimizes Switches for Activ Speeds Low-Latency Data Fabrics ActivFeed Networking and technology vendor Cisco has unveiled optimized switching hardware designed for low-latency market data delivery that forms a key component of its new Activ Financial has released version 1.5 of its High-Performance Trading Fabric—a fully optimized infrastructure for financial data ActivFeed low-latency consolidated data feed. The and trading communication. update features reduced bandwidth utilization via a Paul Jameson, global director of financial services at Cisco, says the more bandwidth-efficient protocol for updating data; vendor’s new 3064 and 5500 switches, which Cisco began shipping to clients improvements around implementing updates and in early May 2011, have been designed specifically to support ultra-low latency changes to feed handlers; more comprehensive and peak message volumes, as a critical component of the trading lifecycle. record information that explains whether an order “We built features into the switches to optimize them for high-performance was filled or cancelled; datacenter redundancy; and trading in financial markets, including features for managing and optimizing data lower latency through the use of variable size across Layer 2 and Layer 3, allowing institutions to optimize various layers of their datagrams, as well as simultaneous use of high-performance environment,” Jameson says. “Without an integrated approach, multiple compression algorithms, and explicit optimizing performance and upgrading individual areas is very difficult.” time-based flush. LSE Licenses Last Sale Prices to Websites The London Stock Exchange (LSE) has its news portal. The license will allow instrument, the volume of shares executed launched a real-time streaming trade data CNBC to publish a subset of the LSE’s in that transaction, and the time of the service aimed at websites, which will allow Level 1 real-time data feed without trade. While the Last Trade Price data does licensed redistributors to broadcast last sale charging end-user data fees, and not have the same breadth as the LSE’s prices for London equities online. without requiring users to enter an official unbundled post-trade package, which it US-based global business news LSE login or user session. released in October last year, officials are portal CNBC.com will be the first to take Last trade content will be limited to confident that the service will provide value up the service, and will begin disseminating instrument name, instrument identifier— to licensees such as CNBC, which can last sale prices free of charge to coincide such as a stock’s ISIN and/or SEDOL package it into their broader services with with the launch of a European version of number—last traded price for that news, data and commentary. Interactive Data Exegy Expands Feed Enhances PlusFeed Handler Line-up Interactive Data has announced that it has expanded its coverage of Middle East feeds via PlusFeed, the date St. Louis, MO-based hardware ticker the venue’s launch to enable clients to specialist’s low-latency consolidated data feed. Real-time plant vendor Exegy is developing a begin processing the data immedi- pricing data from the following exchanges is now live via range of new feed handlers in response ately, says Jeff Wells, vice president of PlusFeed: Abu Dhabi Securities Exchange, Bahrain Stock to fragmentation in Canada and product marketing at Exegy. Exchange, Dubai Financial Market, Kuwait Stock Asia-Pacific driving increased interest Exegy is also developing a feed Exchange, Muscat Securities Market, Nasdaq Dubai, among high-frequency trading clients. handler to process the Australian Qatar Exchange, and Saudi Stock Exchange. Exegy has begun developing a feed Securities Exchange’s MarketPoint The vendor’s PlusFeed is a high-capacity, low-latency handler for full-depth market data from feed of equities and futures price data, data feed that delivers global, multi-asset class instrument TMX Select—a new alternative trading as the pending launch of Chi-X coverage from more than 450 sources worldwide, system operated by TMX Group that is Australia later this year marks the start including over 125 exchanges, with extensive Level 2 data. scheduled for launch this month—and of fragmentation in Australia, The feed is used by financial institutions, hedge funds and plans to make the TMX Select feed generating more interest from Exegy’s execution management system (EMS) providers worldwide handler available from the first day of high-frequency trading