Orc Integrates OneMarketData’s OneTick Data Ahead of MiFID II Rollout

The partnership and integration will help shore up client needs for analytics and regulatory compliance, ahead of MiFID II/MiFIR.

Orc Group (STO:ORC), a provider of electronic trading technology for listed derivatives, has launched a partnership with OneMarketData, LLC, to assimilate the OneTick product into its Bricks and Execution Bricks platforms, according to an Orc statement.

OneTick is a comprehensive solution for event stream processing and tick data management. The function is used by a variety of trading venues and service providers in the financial industry.

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The partnership and integration will help shore up client needs for analytics and regulatory compliance, namely ahead of the MiFID II/MiFIR rollout, which is slated to become effective on January 3, 2017. Despite a target date over a year away, many firms are taking proactive approaches towards the new regulatory edicts, given the convoluted state of a number of measures and need for clarification.

In the more immediate timeframe however, Orc has opted to revamp and adapt its technology platforms, with an update to its solutions offering that helps prepare its clients for MiFID II/MiFIR changes. Amongst the many upcoming changes to the regulatory and surveillance structure, MiFID II will be introducing new compliance oriented regulation, likely rewriting the current market structure, with trading technology being no exception.

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According to Christer Wennerberg, Head of Market Structure, Orc Group, in a recent statement on the integration, “The new European regulatory requirements translate to a need to collect, standardize, analyze and present massive amounts of data. The challenge lies not only in saving data to comply with market surveillance and audit obligations, but to make it useful and available for clients. This is where Orc can add great value together with OneTick – the obvious first choice for complementing our trading and execution platforms with data management and analytics functionality.”

“We are very pleased to work with Orc to address the requirements for MiFID II compliance, and to support Orc as they build a highly competitive trading solutions offering for the transforming European regulatory landscape. We are confident that the analytics and insight our service provides make OneTick an ideal foundation on which to build surveillance solutions,” added Leonid Frants, founder and principal of OneMarketData in an accompanying statement.

Last week, Orc and CameronTec merged into a singular entity, after Cidron Delfi, a company indirectly controlled by Nordic Capital Fund VII and owner of both Orc Group Holding AB and CameronTec Intressenter Holding AB, combined both companies into a unified group. Previously, CameronTec dealt primarily with financial messaging infrastructure and tools for capital markets, with Orc Group focusing on electronic trading technology.

OneMarketData also made headlines recently after it added Dermot Harriss as its newest Head of Development of its OneTick Market Surveillance Service. Mr. Harriss joined OneMarketData from Goldman Sachs and Morgan Stanley, part of a lengthy career spanning over two decades.

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