Seven major hedge funds have recently signed ComStock Europe, part of Interactive Data, to provide them with real-time global market data.
ComStock believes several factors have contributed to the company's recent success its high quality datafeed, low latency, API flexibility and competitive costs.
According to ComStock, its newly re-launched high-speed digital datafeed, PlusFeed, is an ideal service for hedge funds and niche asset managers who require high quality, low latency data that can easily be integrated into their trading and quoting systems.
PlusFeed delivers financial information to power mission critical electronic market data applications, including algorithmic trading engines where speed is crucial. In addition to real-time quote and trade data for equities, derivatives, fixed income, foreign exchange, commodities and funds, PlusFeed provides a wide range of other information including reference data, fundamental data, historical data and financial news. Data is provided from over 350 sources and exchanges worldwide, and covers in excess of 2.3 million instruments.
Competitive advantage can also be gained from using new, computer-based techniques to analyse incoming news in real-time as part of the auto-trading process, such as algorithmic trading. To this end ComStock works closely with leading newsvendors so that news as well as price data on the ComStock feed can be easily integrated into the market data applications of the global alternative investment community.
ComStock's easy to use APIs, as well as a range of database and middleware applications, facilitate integrating its data into client applications. PE Lynch LLP, a market-leading multi-asset, multi-broker algorithmic trading specialist, is now using ComStock's PlusFeed.
'To keep PE Lynch quantitative technology ahead of its competitors we need ever more sophisticated adaptive algorithms,' says Dr Paul Lynch, managing partner of PE Lynch. 'An easy integration of a comprehensive source of market data across all asset classes is vital for this task. We looked at several alternative feeds and chose ComStock.'
Mark Hepsworth, president of ComStock, adds: 'The rise of hedge funds, combined with the general move towards electronic markets and regulatory pressure for increased transparency and cost efficiency, is contributing to the growth of new trading models. And one of the biggest challenges is to manage the ever-increasing volumes of data coming from the exchanges and other sources. ComStock's state-of-the art ticker plant and data distribution model are designed to process and deliver data with a minimum of latency - indeed, we place great emphasis on capturing and distributing every single tick with minimal latency.'
For further information and relatedarticles on Trading & Execution, please click here