NYSE Technologies Open Platform: Data Content & Quality

NYSE Technologies champions a radical and challenging approach to trading infrastructure by allowing any market data, application or middleware vendor to integrate with our Open Platform to distribute content via the OpenMAMA and OpenMAMDA API’s on our ultra low latency Data Fabric middleware and other 3rd party technologies.

A core component of our Global Capital Markets Community strategy, the Open Platform delivers three key benefits to customers:

  • Premium data content and quality
  • Increased flexibility through vendor compatibility
  • Enhanced cost effectiveness

In a series of posts, we will focus on each of these benefits and provide a little more depth on how they relate to our clients’ business. This post focuses on the first of those benefits, data content and quality; flexibility is here and cost effectiveness here.

This unrivalled data content and quality, delivered via the Open Platform, is built on three core components:

1.     Premium product offering in:

a.     An extensive suite of 215+ existing and new generation Feed Handlers

b.     SuperFeed, our hosted data vendor service

c.     Our new Feed Handler SDK making the possible market coverage endless

2.     An Open Standard Data Model

3.     Dedicated normalisation and exchange driven change teams

The breadth of our market data coverage is considerable. We have the largest number of direct feed handlers in the industry, currently covering over 215 data feeds, while clients can also leverage our hosted data vendor service, SuperFeed, supporting over 70 global data feeds. SuperFeed additionally has inherent cross-compatibility with our range of feed handlers, using the same normalisation and data model. Also our new Feed Handler SDK unlocks the full potential of our coverage by implementing our open standard data model and enable customers to build feed handlers for any data source.

Market data normalisation is a significant industry challenge and NYSE Technologies has multiple dedicated teams with the sole purpose of ensuring the highest standards of data normalisation and content. In collaboration with other industry leaders, we are leading the development of an Open Standard Data Model. This represents an industry-standard normalization model created by the capital markets community for the community. It will provide a standard language and structure for market data distribution, which does not mandate the technology, encoding format, or mechanisms by which the data may be distributed by an individual product. Clients will be able to source data sets from disparate data sources without having to interpret individual specifications, or make assumptions about the behaviour of data. The result is faster time to market and lower cost for application development.

As the originators of the Open Standard Data Model, NYSE Technologies is proud to commit to implementing this in our existing suite, as well as our next generation of feed handler technologies. As part of the initiative to publish an open data model, NYSE Technologies intends to provide a reference implementation of this model through OpenMAMDA. As part of the OpenMAMA project, through community collaboration, future versions of OpenMAMDA will not only support the NYSE Open Data Model, but ultimately facilitate multiple “pluggable” data models.

NYSE Technologies also has a team focused on handling the burden of assessing and implementing every exchange driven change (EDC) from all supported venues, ensuring a reliable, current and robust solution. Yet with the increasing number of data feeds flooding the marketplace, we are aware that we may not be able to support every market our customers require. As a result, we have released a Feed Handler SDK, enabling customers and other feed handler vendors, in partnership with NYSE Technologies, to be self-sufficient in servicing trading firms’ needs for unsupported markets. The new Feed Handler SDK, which is built on top of OpenMAMA and leverages the Open Data Model, empowers users to develop OpenMAMA-compliant feed handlers with the capabilities of the current NYSE Technologies feed handler suite, including subscription request handling, statistics logging, fault tolerance and administration.

In summary NYSE Technologies combines the Open Platform and our many years of experience in market data distribution and normalization to deliver an unrivalled set of data feed products in breadth of coverage, data quality, flexibility and interoperability.  Leveraging this suite of products will empower your organisation to make the right trading decisions and benefit from cost effective innovation.

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