Devexperts, a leading software development firm for the financial services industry has unveiled a revolutionary new portal which accompanies its benchmark market data solution. The firm has initially released a beta version of a new terminal that complements its market data feed service, dxFeed.
The new portal which is built on the firm’s current architecture, dxPro, provides users with a clear, dynamic, yet simple user interface. The portal in essence is an advanced research and analysis tool which enables users to take advantage of various modules when ploying with financial data.
“Customisation is key, especially in a fast-moving market where regulatory challenges, technology and market behaviour can affect a firm’s business in a matter of seconds. We have built InfoRider to complement our existing data solution that has been active in the market for over five years,” said Oleg Solodukhin, Head of Market Data at Devexperts in a telephone interview with Forex Magnates.
dxFeed offers data from a wide range of listed and over-the-counter instruments. “InfoRider is data source agnostic, our dxFeed market data service provides direct connectivity and consolidated and normalized data feed from all U.S. equities, options and futures exchanges, major global index providers and FX. Any major vendor data feed can be connected to the platform as well. Custom developed integrations will also be supported,” explained a company spokesperson to Forex Magnates.
With an open framework architecture, InfoRider provides complete flexibility and users have ample opportunity to enhance, develop and extend the current functionality.
The key features:
• Real-time and delayed quotes (equities, options, futures, fx)
• Level 2 data
• Option chains
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• Time & sales
• Heat maps
In a data-centric trading environment where micro-seconds are the difference, InfoRider’s ability to provide fast, seamless and accessible data allows it to compete on the highest level.
The market data sector is worth $25.53 billion according to an industry report issued by Burton-Taylor in 2012. Figures show that the sector is growing, YoY it grew 2.34% versus 2011 figures, thus indicating room for innovation and creativity in a market where the top two players dominate with over 60% of market share.
Devexperts has also tackled the issue of data storage, in a time when firms are faced with an abundance of transactions and messages, storage particularly from a regulatory perspective is paramount. Research carried out by Devexperts shows that market data volumes are growing on a continuous basis. In the US market, where Devexperts serves two leading broker-dealers, current estimates state that 5 to 8 million messages are delivered per second, and the market is expected to cross 12 million messages by 2014.
Mr Solodukhin concluded: “We use our custom developed cloud platform for that. Supporting instantaneous tick-level market replay in any number of instruments from the given moment in time – a kind of “time-machine” for the market – requires efficient multi-terabyte data processing, storage, indexing and extraction algorithms and also requires elastic user-facing resource capacity to provide high level of service. Our custom storage technology and cloud-based platform help us to achieve efficiency in that.”
The platform is available in beta version and will be demonstrated at the second Forex Magnates London Summit taking place on the 11th and 12th of November 2013.