About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Time Stamps Key To Market Data Performance, TCA Provider Tells Webinar

Subscribe to our newsletter

To get the highest performance possible from managing market data operations, especially connectivity, a deterministic approach may not be the only one that should be taken, observed Louis Lovas, director of solutions at OneMarketData, who spoke in a December 8 webinar sponsored by the transaction cost analysis provider, and hosted by Intelligent Trading Technology and A-Team Group.

“If you consider from the consuming applications for data that data quality not only includes the idea of determinate behavior, but also elements that are more natural to the applications for firms that are trading across markets, that’s where you want the consistency in symbols and symbol continuity across market centers,” Lovas said.

Separating the parts of a transaction can affect how data consumers get information about that transaction, observed Mark Reece, director of professional services at MCO Europe, a financial data processing technology provider. “Depending on what you’re trying to do, you may impact the latency of your whole market data system,” he said. “Trades might impact or orders might be impacted by bursts of arrivals of market data. Similarly, if you’re a high-frequency market maker who is doing moving in futures and options, a single ticket underlying may result in a firestorm of outgoing quote updates from you. So you need to be very careful about separating those parts.”

Latency goals in relation to market data operations performance can vary, according to Ted Hruzd, senior infrastructure architect at RBC. “The goals of prop traders, market makers, high-frequency traders and arbitragers are much more latency sensitive,” he said. “Equities and futures traders are more apt to opt for ultra-low-latency. FX is lagging behind bond and commodity trading, but there have been some recent advances in electronic trading for corporate bonds.”

To best support transaction cost analysis or market impact analysis, time-stamp precision and synchronization is “vital,” said Lovas, “particularly for cross-market price discovery, or consolidation or aggregation across markets.”

Subscribe to our newsletter

Related content


Upcoming Webinar: Market data in the cloud

Date: 8 December 2022 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Over the past several years, the topic of market data in the cloud has been hotly debated – latency has been an issue, which data to put in the cloud has been discussed, and lines have been drawn. But...


Kaiko Launches Decentralised Exchange Liquidity Pool Data Feed

Cryptocurrency data provider Kaiko has launched a new decentralised exchange (DEX) liquidity pool data feed, covering the Uniswap, SushiSwap, Curve Finance and Balancer markets. Building on the launch of Kaiko’s DEX data feed in November 2021, which provides trade data for the same four DEX exchanges, Kaiko will now display comprehensive liquidity data from those...


RegTech Summit New York

Now in its 6th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.


ESG Data Handbook 2022

The ESG landscape is changing faster than anyone could have imagined even five years ago. With tens of trillions of dollars expected to have been committed to sustainable assets by the end of the decade, it’s never been more important for financial institutions of all sizes to stay abreast of changes in the ESG data...