Exegy has released the second part of its whitepaper detailing the true cost of market data infrastructure. The report quantifies the high expense for firms building and maintaining their own FPGA-based market data feed handlers. Key findings show a firm’s first in-house handler costs approximately $5.35 million, with full North American equities coverage (18 markets) totalling nearly $9.8 million. This is over five times more expensive than Exegy’s equivalent service. Annual maintenance for an in-house system is estimated at $4.59 million, more than double Exegy’s managed service costs.
The report also highlights the significant time investment, estimating 3.5 years for the first handler and 6.5 years for full coverage, compared to 6 months and 20 months respectively with Exegy. This diverts valuable engineering resources from core strategies. Exegy’s new Nexus platform is presented as a solution, using FPGA hardware to deliver ultra-low latency and 36% lower operational costs. It provides the performance benefits of an in-house build without the associated cost, time, and maintenance burden.
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