Market data

Thomson Reuters offers data outsourcing kit for trading venues

Thomson Reuters has announced the launch of its Enterprise Platform for Exchanges (EPX), a new service that gives trading venues a low-cost means of outsourcing their data technology requirements.

Building on the data vendor's existing capabilities, the new platform offers trading venues a range of information services including low-latency raw order book feeds that are typically used by high-frequency traders, conflated feeds carrying enriched content such as news and analytics, and reference data for vendor redistribution and data display applications.

The information services are supported by technology that offers gap recovery and order book image retrieval capabilities and also includes a fully fault-tolerant dual-site configuration and a complete set of add-on tools for real-time visibility into systems performance.

“For us, EPX is a natural progression of the core technology capability that is already used by thousands of banks, brokers and funds,” Terry Roche, global head of Elektron real-time and Enterprise platform, Thomson Reuters, told “We have a global reach, global data centre and hosting presence and a global network distributing capability, so we feel we are appropriately placed to be an independent partner to trading venues.”

EPX is built on an open and extensible message model, which allows the solution to support multiple asset classes, including new venues – known in the US as swap execution facilities (SEFs) – that will be used for trading over-the-counter derivatives following the adoption of new regulations such as the European market infrastructure regulation and Dodd-Frank.

“We are targeting domestic markets across the globe that want a technology refresh as more liquidity enters their marketplace, as well as alternative venues that are looking for a partner or want to get operational as soon as possible,” said Roche, adding that the company is also in discussions with other technology vendors that offer matching technology to offer a “complete solution or an ”a la carte' service”.