Vela Trading Technologies’ fully managed low-latency market data platform is now live at TMX, Canada’s largest integrated multi-asset class exchange group.
Vela’s managed services platform has enabled TMX to launch new services for the protected markets to comply with Canadian regulatory requirements.
Vela’s platform powers the TMX Information Processor (TMX IP), ensuring clients receive high quality and reliable, real-time market data. TMX will also leverage Vela’s distribution component to publish data into the STAMP format that is used in other products.
The TMX IP provides a central source of consolidated Canadian equity market data that meets standards approved by regulators. The TMX IP products include the Consolidated Data Feed (CDF), Canadian Best Bid and Offer (CBBO), Canadian Best Bid and Offer for Protected only markets (CBBOP), Consolidated Last Sale (CLS) and a Consolidated Depth of Book Feed (CDB).
Vela’s managed market data platform provides end-to-end operational support for its unique blend of low-latency feed handlers and products to consolidate quotes and trades from different market centres. The platform is fully managed by Vela’s 24×7 team allowing TMX to focus on centres growth into other asset classes and new data products.
Eric Sinclair (pictured), president, TMX Market Insights, and group head of information services, TMX Group, says: “We have refreshed and enhanced the TMX IP platform technology to expand our market and product coverage. We are very pleased with the success of the integration project. Vela’s managed services team clearly understood our business, technical, and operational requirements. Furthermore, their dedicated client support team worked closely with TMX to ensure a smooth implementation.”
Jennifer Nayar, CEO of Vela, says: “We have been working with TMX since 2008 and are delighted to support the growing TMX service portfolio. Vela continues to enhance the TMX IP and it is pleasing to hear how well our managed service team is performing in this systemically important function. We pride ourselves on providing excellent client services and innovative products that help firms like TMX address the ever-changing regulatory challenges on a global scale.”
