Market data appliance provider Exegy has teamed up with TMX Datalinx, the information services division of TMX Group, and the Financial Information Forum (FIF) to deliver MarketDataPeaks.ca, a free web service providing real-time information about market data messaging rates across major Canadian exchanges. The service includes a daily chart that is designed to help market participants understand variance in market data rates and how rates may change over time so that they can ensure sufficient network and processing capacity is in place within their firms.
David Taylor, chief technology officer at Exegy, says the growth of Canadian markets over the past few years has generated increased demand for this kind of service. Built on feed handlers the company wrote for Canadian data feeds some time ago, the service reports market data statistics to a centralised managed services infrastructure that uploads the statistics to a hosted web portal. Taylor comments: “The service is for an informed community and allows everybody to understand what is happening from a market data point of view. To the degree that people can effectively manage capacity planning, it ensures firms’ infrastructures are well provisioned.”
MarketDataPeaks.ca is based on an Exegy ticker plant appliance, with the TMX Group providing access to raw data and colocation, and the FIF supporting implementation solutions and working group discussions. Initially, the site includes information from the Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha, Chi-X Canada, Canadian Securities Exchange and Omega ATS, but more data feeds are expected to be added in future.
Compared to other offerings in the market, Taylor says that while a number of firms offer market data distribution and normalisation services, none provide this information free of charge as a community service. He explains: “The differentiator with Exegy is that we provide additional visibility of what is happening in market data infrastructure and we manage that visibility for our customers.”
Looking forward, Taylor says Exegy’s focus is on expanding the breadth and depth of content that the company provides to its customers via managed services. If the Canadian MarketDataPeaks site is successful, a similar development for Asia Pacific markets is a next logical step for this part of the business.