Skyler Technology, the market data and connectivity firm, has launched Market Data Management, a product designed to control multiple market data sources within users’ market data infrastructures.
Market Data Management allows firms to more easily handle all the different instrument symbols used by each trading venue or vendor feed. According to Skyler, the product can be used alongside consolidated feeds from market data vendors and will significantly improve overall data quality, efficiency and resilience.
Market Data Management enables multiple disparate data feeds to be configured as possible sources of price data for any instrument. The system allows administrators to allocate priorities to each available feed, ensuring that the best data sources are used first, and subsequent feeds are used in the event of any failure.
The product also allows its users to create ‘super records’ of instrument data, which facilitate the creation of consolidated feeds for all relevant data. These can include news flags, settlement codes and benchmark open and closing prices for mark-to-market.
According to Skyler, this simplifies coding tasks, leaving client applications free to focus on generating trading decisions and lowers the processing and operational resources required.
“With Skyler Market Data Management we’re solving a range of key issues for the growing number of financial organisations that use multiple market data feeds, in particular where they have to make a specific decision on which vendor – or feed – to use as the source for their trading applications,” said Mark Ford, Skyler’s chief technology officer. “Our new solution allows a seamless abstraction of the underlying feeds, allowing us to provide a single subscription to instruments, whatever the source – helping our customers to optimise the investments they’ve made in market data and their broader infrastructure.”