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NYSE Technologies and First Derivatives Detail Shared Services

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The tie-up of NYSE Technologies and First Derivatives to deliver ‘as a service’ solutions combines data provided by the former and Delta products from the latter, with the first solution, Tick as a Service, due to be introduced next month.

The partnership is exclusive and will see NYSE Technologies taking the lead on marketing ‘as a service’ solutions that will be hosted in the NYSE Technologies cloud as shared services and made available across the company’s Secure Financial Transactions Infrastructure, or SFTI, network. The aim of the services is to enhance real-time trading, complex event processing, market data and trading applications, and improve users’ time to value, while reducing operational overheads and costs.

Tick as a Service combines First Derivatives’ Delta Stream platform, which has an underlying kdb+ database from Kx Systems, with NYSE Technologies’ data. Client data from other sources can also be included and managed as part of the service. The data will be delivered by NYSE Technologies’ SuperFeed consolidated feed service, consumed by Tick as a Service and stored into the kdb+ high performance database. Using a data visualisation layer, data analytics can then be performed against the database to provide services such as algo back testing, model validation, compliance checks, risk checks and regulatory checks.

Jon Robson, CEO at NYSE Technologies, explains: “By integrating First Derivatives’ services with our portfolio of technology solutions, including the consolidated feed service, we can offer data collection, storage and analysis as a service to our global trading community. Tick as a Service will allow participants to move from a client deployed to a managed service for the storage, support and delivery of tick history infrastructure to back test algos and interrogate data. This is the first of a number of historical data solutions we will offer.”

Andy Wisbey, regional head of sales, EMEA, at First Derivatives, describes four components of Tick as a Service, namely connectivity infrastructure, management, data, and tools and technology. He says: “This is all about data analysis, looking for trends and alerts. The front-office wants to make money and the middle office must manage market surveillance and risk. Clients have different requirements so they can take all or some of the four components of Tick as a Service and use just what they need of each.”

When the service is introduced it will use reference data and market data from NYSE Technologies’ SuperFeed, but more data will be added in response to client demand. Wisbey explains: “The Delta platform is data agnostic so it can take in not only data from SuperFeed but also market data from other vendors.” Looking forward, he expects other Delta apps such as Delta Surveillance and Delta Algo to underpin ‘as a service’ solutions powered by NYSE Technologies’ data.

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