Arcontech, a developer of real-time market data software, has announced the first independent feed handler for Chi-X, the pan-European ATS. This announcement brings free market data a step closer by enabling Chi-X data to be distributed via Arcontech's CityVision StarNet applications, used by financial institutions for publishing market data on large networks and the internet, Arcontech says.
The Chi-X Handler will become part of Arcontech's EuroVision suite that helps institutions comply with the MiFID requirements regarding pre- and post- trade reporting and best execution.
"We are finding that more firms want to take data direct from the source, for reasons such as quality and speed," comments Andrew Miller, managing director, Arcontech. "If more data sources follow the Chi-X example of providing free market data, then the cost of traditional vendors will become an issue.
Our software will give firms direct and cost-effective access to the emerging venues and price sources."
Hirander Misra, director of Instinet Chi-X, comments, "Chi-X seeks to provide investors with a faster, cheaper and smarter alternative for trading European equities.
We welcome Arcontech's Chi-X handler, which will help our clients access Chi-X market data whilst also meeting MiFID requirements."