Thomson Reuters upgrades analytics platform to handle MiFID II demands

Technology upgrades will enable system to stream large volumes of data and process in real-time.

By None

Thomson Reuters has added new functions to its data analytics platform, which it claims make it MiFID II-ready.

The Thomson Reuters Velocity Analytics will offer high-speed processing of real-time, streaming and historical data feeds to help market participants comply with MiFID II’s stringent new data obligations.

Firms will be able to use the platform for best execution compliance, transaction cost analysis and quantitative trading. From next year it will also support multi-asset best execution and systematic internaliser determination.

The platform is based on technology provided by Kx, a specialist in high-performance, time series databases.

Kx’s technology means Veolicty Analytics is now able to process much larger volumes of data from multiple sources, something that is necessary to cope with the demands of real-time data streaming and analytics.

Thomson Reuters said it has also taken the opportunity to expand its range of historical and reference data available for processing through its Datascope Select and Thomson Reuters Pricing services.

Brennan Carley, head of enterprise propositions at Thomson Reuters, said: “MiFID II compliance is fundamentally a data challenge and the work we have been doing to completely reengineer Velocity Analytics will support financial markets participants looking for best execution, transaction costs analysis, and other high performance trading analytics.”