Taming the Deluge of Data as Global Markets Multiply

by Katherine Heires (www.mediakat.com),  Information Management Online

In the middle of last year, David Meitz began to plan for the growing demands of the asset managers and hedge funds that are his agency brokerage’s customers, as they grew increasingly active in rapidly multiplying European markets. Meitz is the managing director and chief technology officer at Investment Technology Group (ITG), based in New York. The independent agency broker and technology provider operates around the globe, with 18 offices in 10 countries, including the United Kingdom, Ireland and Spain. And since the European Union instituted the Markets in Financial Instruments Directive (MiFID) on November 1, 2007, a wide variety of new electronic trading venues, known as multilateral trading facilities (MTFs), have launched, bringing fragmentation to the purchase and sale of shares.

As the MTFs in Europe proliferated, ITG started to hear a constant refrain: “Find a way for me to have a consolidated view-in real-time-of all the trade data coming in from the new trading venues in Europe-in particular the new MTFs.”

The message to Meitz was clear: “I needed a way to quickly address all the MTF data, given the fragmentation of the EU market; After the MiFID regulation in Europe, it became apparent that this [the push for a consolidated quote] would be an issue for us,” he said. Which is where using complex event processing technology to make sense of – and consolidate – the deluge of data from all these venues came in to the picture. Article