The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Scaling New Market Data Peaks

It’s becoming quite a frequent event – that being the press release from marketdatapeaks.com about a new record high as measured using the Exegy ticker plant appliance that powers it. Today, the release said the record had been pushed up to 3,732,957 messages per second at 9.54am. The previous peak was 3,449,856 mps, which was recorded on Friday.

What’s causing these peaks? Good old news it seems. Today’s trading was driven by some positive consumer confidence data and better than expected house price reports. That led market makers to rapidly change pricing and order books – and thus data feeds pumped out 800,829 mps. And of course the derivatives markets then followed suit on thousands of contracts based on the underlying cash markets, resulting in 2,516,437 mps. The US stock markets all changed their top-of-book quotes in reaction – another 364,689 mps of quotes – and their exchange trading systems reported 49,290 mps. It all adds up (though not to the top-line total for some reason).

Apparently, previous recently reported peaks were also down to market reactions to news events. So is there a trend with all this good and bad news? Or some kind of connection? Not the case says Exegy’s Jeff Wells, who reckons it’s just “lots of market turbulance” though he also noted that several exchanges have been upgrading their technology – and thus increasing capacity.

So it’s not just a low-latency arms race that’s still happening out there, but also a throughput arms race, as exchanges, liquidity venues and market participants (as well as network and connectivity providers) all upgrade to cope with new peaks, and by so doing contribute to new peaks. Something tells me this one will run and run.

Related content

WEBINAR

Recorded Webinar: Privacy vs. Surveillance: Managing conflicting regulations in Germany and other privacy-sensitive jurisdictions

The EU’s MiFID II and other regulations globally have placed greater emphasis than ever on market surveillance, recording of trading communications and records-retention processes in an attempt to stamp out market abuse and boost investor confidence and protections. At the same time, the public’s attitude toward data privacy has hardened, most visibly through new regulations...

BLOG

FINBOURNE Joins Dutch Regulatory Sandbox to Explore Creation of EU Consolidated Tape

FINBOURNE Technology, founded in 2016 with a mission to reduce the cost of investing and increase transparency, has joined the Dutch Authority for the Financial Markets’ (AFM) regulatory sandbox to drive creation of a consolidated tape provider (CTP). A CTP features in the EU’s MiFID II and MiFIR frameworks, but has yet to emerge despite...

EVENT

Virtual Data Management Summit London (Redirected)

Now in its 8th year, the Data Management Summit (DMS) in London explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.

GUIDE

Trading Regulations Handbook 2021

In these unprecedented times, a carefully crafted trading infrastructure is crucial for capital markets participants. Yet, the impact of trading regulations on infrastructure can be difficult to manage. The Trading Regulations Handbook 2021 can help. It provides all the essentials you need to know about regulations impacting trading operations, data and technology. A-Team Group’s Trading...