Market Data Connectivity and Management

About market data

Latest market information plays a major role in understanding the current market trends. Every exchange continuously broadcasts the current market information (level I and level II data for different products, announcements, news etc) to the subscribers, often in a compressed and encoded format.

In the modern era of global exchange connectivity and direct market access, every trading system needs to instantly access market data feeds from multiple exchanges simultaneously.

The problems

The problems in accessing the global market data and distributing it to clients are:

• The market data subscribers need to use a exchange specific decoding/decompression tool to access the contents of the market data and then convert those contents into a format suitable for their trading systems. However different trading systems use different data structures for their internal processing.
• Different interfacing specifications for different exchanges for accessing the market data result into the connectivity management issues.
• Different exchange dependent formats of the market data feeds result into the uniformity issue for their concurrent processing in a trading system. A trading system can perform efficiently only if all data feeds are converted to its own internal data format.
• The huge size of market data feeds and their high transmission rates result into the data processing optimization and data flow streamlining issues.

Our solution

Our Market Data Platform (MDP) is a low latency and high-performance platform designed to access market data from multiple feeds, decode and normalize it and redistribute it in the FIX market data format. Using plug-n-play exchange specific market data feed handlers, MDP can simultaneously connect to any number of exchanges all over the world.

Our MDP is fully scalable, streamlined and optimized for handling multiple feeds in different formats and synchronizing high real-time data flow rates across different channels. It has also been an integral part of the real-time testing of our products and solutions.

The features of our market data solutions are:

• Real-time tick-to-tick market data refresh
• Data refresh in microseconds
• Real-time information on level I data.
• Real-time level II data (market depth) with customizable depth
• FIX/FAST Protocol based uniform messaging standards for high data transmission rates on narrow bandwidth lines, secure data transfer and internal message data format independence
• Support for Incremental and Snapshot market data refresh Plug-n-play support for popular derivative exchanges