Bloomberg has augmented the analytics available to users of its EMSX execution management system with the integration of OneTick’s complex event processing (CEP) engine and database. The aim is to offer more actionable analytics and provide EMSX users with access to real-time venue analytics, intra-day market impact analytics and advanced liquidity signal indications.
Bloomberg looked at a number of CEP options that could work with EMSX for the rapid development of customised trading analytics before evaluating and selecting OneMarketData’s OneTick. The software has been licensed to Bloomberg and in production alongside the execution management system since the close of 2013, with users consuming the analytics as part of their subscription to the Bloomberg Professional service.
Palak Patel, global head of equity trading and connectivity product development at Bloomberg, explains: “While EMSX users have always had access to real-time market impact analytics, OneTick gives traders the ability to take these analytics a step further. Traders can now recreate exactly what the market looked like moments before and after a trade is sent to an algo or venue. Similarly, our customers always had access to real-time venue analytics, but with OneTick we are able to deliver venue analytics that are truly actionable.”
Richard Chmiel, senior vice president at OneMarketData, says: “Today’s traders do a fair amount of data management as data is fire hosed onto their screens. They want to use tools and platforms to maximise efficiencies and push data to them. EMSX provides lots of functionality and data to traders, and OneTick provides an analytics platform that augments existing Bloomberg analytics. With the OneTick CEP engine and database, Bloomberg users can take advantage of real-time and historical data to shape advanced trading strategies and perform customised transaction cost analysis on trade executions.”
This is a big name win for OneMarketData and is its first implementation of OneTick at Bloomberg. On a wider scale, the company has about 80 OneTick customers, with some deploying multiple instances of the analytics software.