Velocimetrics has released version 9.0 of its VMX EndToEnd business flow tracking and real-time, in-stream performance analytics, making a step change in functionality and recognising the trading industry’s move towards devops and need for an holistic understanding of all data across the business, as well as a detailed view of specific trading processes.
VMX EndToEnd collects, analyses and aggregates huge volumes of data from all levels of an organisation in real-time, and creates connected business intelligence by correlating the data and providing navigation and visualisation of data across different levels of the business. Users can take a high-level view of the business to see, in real time, everything that is happening and assess the impact of particular events. They can also drill down to gain a granular view across aspects of the trading process such as trading patterns, performance, client service KPIs and technical infrastructure.
Version 9.0 far exceeds the capabilities of previous versions of the solution – which typically improved 10-20% on each iteration – by switching some of the solutions underlying technology to more modern, persistent systems. To manage greater volumes of data, Velocimetrics has implemented InfluxData’s InfluxDB time series database in place of in-house built technology. This has resulted in the ability to handle a ten-fold increase in data volumes.
Taking advantage of the ability to mange more data, the company has also made connectivity between datasets, as well as existing holistic views of data, front and centre in the user interface. This allows users to explore everything from the profitability of the trading organisation to the client desk and related infrastructure, and quickly access and trouble shoot any problems. While the solution is business performance led, its data lineage capability also plays well into compliance with regulations such as Markets in Financial Instruments Directive II (MiFID II) and Securities Financial Transactions Regulation (SFTR), which require data to be traced across its lifecycle.
Steve Colwill, CEO at Velocimetrics, says Version 9.0 provides a step-change in speed and facility, with its ability to handle increased data volumes solving clients’ frustrations about deciding what data to record and later finding they haven’t recorded the data they need. The volume of data recorded also allows firms to put in thousands of metrics to help them explore the business or troubleshoot.
On the data connectivity element of Version 9.0, Colwill comments: “Banks struggle with how to break down the walls of data siles and correlate across datasets. VMX EndToEnd solves this and offers multi-dimensional navigation.”
While Velocimetrics introduced its first products 10 yeas ago, when there was a clear divide between the front-office, server farms and networks, making it difficult to get to the root of problems, Colwill now notes increasing interest in consolidating functions using a devops approach. With about 75 clients, mostly large banks and hedge funds, on a global basis, he also notes that while most clients use Velocimetrics for front-office trading, there is growing interest in using it in the middle and back office. He comments: “As a result of MiFID II and other requirements, firms are waking up to the need to get their arms around end-to-end data connectivity.”