Smartmarketdata Preps for Jobs Data Analytics Osaka Exchange
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Inside Market Data November 17, 2014 waterstechnology.com/imd Volume 30, Number 6 Osaka Exchange Formalizes Data Policy ORGANIZATION & STRATEGY 3 Colt to Buy Japanese The Osaka Securities Exchange has published March next year, JPX plans to migrate OSE Network, Hosting Partner a formal market data policy for the first time, data customers to the TSE’s Market Informa- KVH outlining the terms of usage and distribution of tion Client System (MICS)—the mechanism by its market data, as an initial step towards greater which users can enter into contracts with the RATINGS alignment with the Tokyo Stock Exchange, TSE for market information. The MICS system 5 S&P Capital IQ Adds which merged its operations with OSE in 2013 enables users to report what data they consume Moody’s, Third-Party to form the Japan Exchange Group (JPX). and how they use it, and outlines terms for Ratings to Xpressfeed Since the merger, JPX has integrated the termination of any agreement. Once OSE users two exchanges’ cash equity markets onto migrate to MICS, the exchange will issue an ID EXCHANGE WATCH TSE’s Arrowhead platform, and has consoli- and passcode to subscribers who wish to enter 6 Deutsche Börse Adds dated all derivatives trading operations onto into an Information Provision Agreement. Cleartrade Data to CEF the OSE’s J-Gate trading system, supplied by For now, the respective market data poli- Nasdaq OMX. cies of JSE and OSE will not be merged, EXCHANGE WATCH As part of ongoing migration efforts, in though publication of the official OSE >3 7 Ukranian Exchange Eyes Data Policy Harmonization with Moscow Exchange SmartMarketData Preps for Jobs Data Analytics SPECIAL REPORT Startup data provider SmartMarketData is pre- ment-issued employment figures. 8 Latest Exchange Results paring to enter the second phase of its launch, In fact, prior to SmartMarketData inking a Show Mixed Fortunes where it will develop proprietary analytics to deal to distribute the data to financial firms, accompany the datasets it distributes, to make Toby Dayton, president and chief executive of ADMIN & MANAGEMENT it easier for investment professionals beyond LinkUp parent JobDig, used the data to create 9 Asset Control Adds Pricing quantitative analysts to access its data. his own estimate for US Bureau of Labor Sta- Input Monitoring to AC Plus, Hartford, Conn.-based SmartMarketData, tistics non-farm payroll figures, which the com- Preps ‘Metering’ Cache which launched in June, currently distributes pany contributed to Bloomberg’s consensus employment and hiring-related data from job jobs forecast model, says Larry Green, founder website LinkUp.com, which quantitative ana- and president of SmartMarketData. “Certain COLUMNS lysts at buy-side and sell-side firms can use as banks were building LinkUp’s number into 4 OPENING CROSS a leading indicator of a company or sector’s their models—but that’s just one number. Now In Search of Data’s ‘Perfect health, rather than waiting for official govern- we have productized LinkUp’s complete >3 Harmony’ 5 HERD Moscow Exchange Bows Historical Datasets 6 SCROLLING NEWS The Moscow Exchange has launched a range close/high-low and volume data (Type C). of new historical data products for its securities, The full-depth data covers all orders and currencies, derivatives and over-the-counter trades for the exchange’s equities, bonds, markets, to provide trading members, data ven- futures and options markets and will primarily dors and other subscribers with a golden copy be used by high-frequency trading firms for of historical data for testing trading algorithms beta testing strategies, says Denis Avetisyan, and performing technical analysis. head of market data at Moscow Exchange. The exchange is offering three new prod- “The BBO and trade data product is for firms ucts: Order Book, which covers data on all who are trading less liquid instruments who trades and orders (Type A); Top of Book, don’t need the full order book, and the end- which provides data on all trades and best of-day summary data is used as a reference by orders (Type B); and End-of-Day summary back offices in Russia,” he adds. information, which provides bid, ask, open- According to the Moscow Exchange’s >10 The new bumper issue Inside Market Data app now available – FREE for all Inside Market Data, WatersTechnology Data and Premium Package subscribers. Download all the content from the latest weekly print issue, build your archive of issues and view them offline. To download and find out more visit waterstechnology.com/static/imd-app EXCHANGE WATCH CONTENT FOCUS OSE Formalizes Market Data Policy SmartMarketData <1 policy document is the first step cal data such as trading volumes, trad- <1 dataset of over 2 billion job records, towards further integration between ing values, and open interest by market including all the descriptive data relating to the two exchanges, officials say. and product; as well as full order book those jobs,” he adds. By migrating OSE users to MICS, information. Green is now finalizing the second phase the merged exchange is “leveling the of SmartMarketData’s development, which ground and trying to achieve the same Direct vs. Indirect will likely include multiple sub-phases, but quality of services,” said Wakako Mat- Users can receive the data feeds by con- will see the vendor develop and launch ana- suda, official for information services at necting directly or via a vendor to the lytics on the LinkUp dataset within the next TSE, speaking at the Asia Pacific Finan- OSE’s market data distribution system year that will expand its potential client base cial Information Conference in Hong (which the exchange classifies as “direct to any investment professional. Kong earlier this month. usage”), or can subscribe to the data For example, gathering data on the posi- Previously, OSE had a market data indirectly—for example, if a vendor tions a company is seeking to fill can indi- policy in place, but never formally pub- wishes to distribute the data via a ter- cate its future strategy and where it plans to lished its policy document. However, minal product (“indirect usage”). In expand, Green says. “With LinkUp Raw, the publication of OSE’s policy will both cases, those carrying or distribut- you can predict where a company expects support its migration to MICS, as it ing the data will be required to sign an to be in three or six months, rather than will make the terms of the agreement Information Provision Agreement with waiting for government or payroll surveys public for the first time, officials say. OSE, though end-users who consume that show activity over the past three or six The policy document, which will OSE market data via terminal products months,” he adds. “Beyond quants, this come into effect in March 2015, covers will not need to sign an agreement with will interest fundamental stock investors distribution of real-time Level 1 futures the exchange. Subscribers who use OSE and analysts, who are probably trying to and options data; index data such as the market prices or index information to do this themselves by looking at job and Nikkei 225, the Nikkei Stock Average create their own derived data points are company websites.” Volatility Index and the Nikkei Stock also not required to sign an agreement. Users can also use the descriptive data Average Dividend Point Index; statisti- Faye Kilburn in job postings to drill down into specific requirements. For example, if job postings show a spike in demand for developers with ORGANIZATION & STRATEGY expertise in a specific company’s products, traders may want to consider investing in Colt to Buy Japanese Network, the company that makes those products. 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