Metamako and Velocimetrics have developed a joint solution designed to enable capital markets firms to capture, analyse and precisely timestamp trading data in compliance with the requirements of Markets in Financial Instruments Directive II (MiFID II).
Under the partnership, Metamako’s low-latency network devices aggregate and directly route packets of nanosecond-precision timestamped data to Velocimetrics’ VMX analysis software, providing a complete data audit trail and satisfying the demands of MiFID II.
The solution will also allow VMX users to analyse raw trading data within the network, as opposed to tapped off the network. The firms say: “This will alert clients to potential problems much faster than before, provide quicker drill-down to root cause analysis of problems, and allow traders to alter strategies to optimise trading.”
Velocimetrics CEO Steve Colwill comments: “Our technologies work extremely well together. Metamako’s network approach provides the basis of a dynamic monitoring fabric required by evolving regulatory and operational demands. More prosaically, as aggregation and tapping are done on a single device, a lot of rack space can be saved. This is an important consideration in collocation as rack space is very expensive.”