Locked into an expensive Market Data Vendor ?
Like most market data subscribers, you probably feel locked into your current data vendor.
Switching to an alternative data source could provide you with big savings, but it involves re-engineering your downstream applications, which in turn means significant cost and effort. And so you stay with the same vendor, year after year, because a switch just isn’t economically viable.
Until now …
At Magtia we enable our clients to seamlessly switch market data providers without any redevelopment or reconfiguration of their existing trading applications. We do this by mapping alternative symbologies and integrating them into existing RMDS platforms, helping you to realize the substantial savings to be made by switching providers.
And now, due to a recent EU Ruling* resulting in the Extended RIC License becoming available, we are able to offer this solution to customers whose applications currently use the Refinitiv RIC symbology to consume market data.
*As of 19th June 2018 the ERL is no longer available to new clients. If you purchased an Extended RIC Licence Option (ERLO) before this date then you have until 19th June 2020 to subscribe to the ERL.
- Reduce market data costs
- No application re-coding or re-configuration is required
- No big bang deployment, possible to migrate one market at a time
- Enables you to use a mix and blend of data vendors
- Secondary data vendors may be used as a failover
- Rapid ROI possible : savings realised within months rather than years
- Centralised mapping management benefits from Economy of Scale & Crowd Sourcing
- Daily Mapping files delivered before market open
- All instruments per exchange/venue are mapped each day
- Data is checked and QA-ed before delivery
- No mapping delay as there is with an interactive mapping tool
- Thousands of instrument cross reference can be delivered in under a second
- All new issues and RIC/ISIN/IPOs and CORAX changes are included in the daily file
- Deployment of maps and updates are under client control
- Client can also override any mapping from the management console
- Mapping occurs on initial request only hence solution doesn’t increase latency of updates
- Supports many 3rd party architecture RMDS gateways
- Data delivered over RMDS/TREP
- Solution can also be used to support roll over to alternative data vendor in the event of a failure
- The architecture introduces no latency to the datafeed
Why choose Magtia to faciliate you market data switch over
- Switching data vendors can deliver significant market data cost savings
- Magtia can provide a fully tested performant switching tool to enable the switch – no requirement to develop and test in-house
- The Magtia mapping service is very cost effective compared to implementing an in-house daily mapping function
- Using a 3rd party to manage the mapping allows you to benefit from economies of scale.
- The RIC Mapping Service (RMS) API is now fully integrated into our solution – Magtia were the the first adopters of the RMS API
- We have already implemented a live system for a Tier 1 bank.
- Using the Magtia solution our client is able to trade all major cash and derivatives markets using RICs to request data from an alternate vendor.
- Our client did not need to re-code or re-configure any of their trading applications
- We have developed a proven symbology mapping approach
- Our rule driven mapping process has been developed and refined over many years
- Our personnel have significant market data expertise
- The Magtia solution is designed by market data managers & technology experts. As a result much thought has been given to the quality and operational requirements as well as to the technical solution.
- Magtia have a dedicated exception management team
- The Magtia solution emphasises removal of operational risk
- Automated stringent QA’ing of mapping is of primary importance and has been fully integrated into the Magtia solution
- As the Magtia client base grows our customers will benefit from the quality checking inherently delivered by ‘Crowdsourcing’