Interactive Data, a financial market data and analytics firm, has announced that its Real-Time Services business has launched PlusFeed Select, a watch-list based datafeed.
The solution is designed for firms that have limited real-time data requirements but still need to draw select information across market sources and asset classes to obtain this data.
Clients will have access to data subsets from over 450 sources and exchanges worldwide, covering some five million financial instruments.
According to Interactive Data, the new service will be of use to hedge funds as well as other organisations that require only a subset of data from a single exchange with a mix of active and inactive instruments.
The firm believes that users will benefit from significantly lower communications costs compared to a deployed solution at a client site through Interactive Data’s hosted environment for delivery of datafeeds. PlusFeed Select will be distributed via Interactive Data’s high-speed Titan Data Network-Multicast, which is designed to handle up to three million messages per second. The service will be delivered over the BT Global Financial Services’ Radianz network.
“Interactive Data launched PlusFeed Select as a secure solution that can help clients address the growing costs resulting from the exponential growth in market data volumes,” said Jay Kilberg, managing director, Interactive Data Real-Time Services, in a statement.
“This service can allow clients to cost effectively access a watch list of instruments from a universe of more than five million instruments with the requisite low latency to support their applications.”
“As market data volumes continue to rise at a rapid pace, the costs that companies incur to obtain real-time data are increasing significantly as well,” added Tom Price, research director, securities and capital markets for TowerGroup.
“Market data solutions which provide a targeted set of real-time data extracted from a broad universe of financial instruments could contain costs and potentially reduce certain elements of data latency.”