Alveo, has extended its commitment to open source technologies with the release of Delta, a data distribution capability. Delta uses the latest cloud latest cloud technologies to accelerate the deployment of market data sets into business user workflows and business applications, and is an integral part of Alveo’s data management suite, which includes Prime data mastering solutions and the Alpha Datawarehouse.
Delta allows users to choose whether to stream data using the Kafka distributed event streaming platform or send defined exports of data sets via csv, xml, json or other formats at regular intervals. Any data delivery is configured by defining criteria for a list of interest of financial instruments, its attribute coverage, quality criteria and format. This flexibility in exporting and shaping data speeds up integration with business applications and any third-party downstream data warehouse.
Neil Sandle, head of product management at Alveo, explains: “Using Delta, our customers can easily onboard new downstream destinations. Delta generalises the concept of a query to the point that any query can immediately be registered as a recurring data export. Customers control who gets what through managing subscription lists and setting up new data shapes. Delta includes our REST API and an easy-to-use report builder. Financial services firms often have a varied application landscape and Delta’s adaptability to downstream consumption ensures data consistency and data quality throughout overall workflow processes.”
With data distribution, or last mile integration, typically representing over 80% of the cost of data management projects, Mark Hepsworth, CEO at Alveo, adds: “By introducing an easy and flexible way of onboarding new systems, Delta provides faster access to quality vetted data, accelerates time to market and materially reduces both direct cost of change as well as opportunity cost. Easier access to high quality market data is a key issue for financial institutions as they focus more on data driven workflows. Delta facilitates this.”
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