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A-Team Insight Blogs

Metamako, MayStreet Take Steps For Time-Stamped Order Ledger

FPGA networking platform provider Metamako has added market access and data analytics provider MayStreet’s services to its network, which will make it possible to develop a time-stamped order ledger, according to Ciaran Kennedy, head of US operations at Metamako.

“MayStreet’s ability to decode market orders, extract our time stamp and combine the two, would allow clients to meet MiFID II regulations for event timestamping,” he says.

Under the partnership, MayStreet data analytics software for capital markets firms runs on Metamako network devices, and the combination of Metamako packet capture technology with MayStreet’s analytics engine lets users interpret market data in real time. Metamako first caught MayStreet’s attention for its data capture capabilities, says Kennedy.

The companies have already begun providing statistics about the health of Nasdaq’s US equities feed, according to Kennedy. Metamako has now made MayStreet’s analytics applications available through its MetaApp 32 hardware platform and a user-friendly GUI, he adds. The integration of Metamako and MayStreet lets the companies’ respective users monitor incoming market data, including bandwidth and packet loss, to gain real-time performance insights.

MayStreet CEO Patrick Flannery said in a statement, “Our clients have vast quantities of data flowing across their networks. There generally hasn’t been an easy, cost-effective way to collect all the traffic on the network and generate the business-specific data sets. Working with Metamako changes that: we can quickly and easily collect extremely high-quality ‘raw’ capital markets data and transform it into specific use cases. For example, we can capture market data and order entry data in a unified stream, across all cross-connects and generate SEC and CFTC audit trail reports.”

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