OneMarketData has begun the roll out of a series of packaged solutions with the introduction of OneTick Market Surveillance Service, a hosted solution created by the company in partnership with Fundamental Interactions. The solutions deviate from the company’s traditional commercial model of licensing the OneTick time series tick database and analytics engine software to users and will not necessarily require customers to be existing OneTick customers.
OneTick Market Surveillance is designed for executing brokers and market makers, and is an out-of-the-box solution that supports real-time examination of the order flow of regulated entities. It includes pre-coded compliance rules, alert thresholds, email notification, alert monitors, visual dashboards and market data, and is scoped to identify trade breaches such as layering and spoofing, quote stuffing, wash trading and marking the close. The solution can be deployed in house or hosted and managed as a subscription service by OneMarketData.
Louis Lovas, head of solutions at OneMarketData, says OneTick Market Surveillance is the company’s first product release and that another product will be introduced towards the end of this month or early next month, with others following.
The company’s first OneTick Market Surveillance customer is a New York bank, which is not a OneTick user and is using a hosted version of the software that is managed by OneMarketData at the NY4 data centre. Two further evaluations are underway, with the company expecting early uptake of the solution among brokers, followed by interest from market makers.