Traders by Integrating Interactive Data’s DirectPlus
TradingScreen, cutting-edge provider of multi-broker, multi-product trading platforms announces the integration of DirectPlusSM, the fully managed ultra-low latency direct exchange data service from Interactive Data Corporation’s (NYSE: IDC) Real-Time Services business.
DirectPlus is designed to provide access to sub-one millisecond data from a range of sources, such as NYSE Openbook (including “Best Quotes”), Nasdaq Level 1 and SingleBook, ArcaBook and Direct Edge ECN. By offering access to this ultra-low latency data directly within their platform, TradingScreen can help enable customers to more efficiently develop and execute their algorithmic trading strategies.
“By integrating DirectPlus into TradingScreen’s trading platform, we can provide a broad set of ultra-low latency data that is designed to support customers’ algorithmic trading initiatives,” said Mark Hepsworth, president of Interactive Data Real-Time Services. “We are delighted that TradingScreen has selected DirectPlus, and believe that it will provide their clients with the benefits of ultra-low latency data, while minimizing the technology and cost burdens traditionally associated with direct-to-exchange datafeeds.”
Hepsworth continued, “Our relationship with TradingScreen can also help Interactive Data extend its reach among institutions such as hedge funds, a market that we have been gaining momentum in over the past few years. With the combination of DirectPlus and PlusFeed, Interactive Data’s low latency global consolidated datafeed, we can offer a broad range of institutions and technology providers with the data that they need to help them create market winning applications.”
“The Buy side traders’ needs are rapidly evolving from traditional discretionary trades to a more “in control” approach to trading through the use of Direct Market Access and Algorithm trading, to achieve better, more effective execution. To succeed in this new environment Buy side traders need better, faster, more accurate market data. The integration with Interactive Data’s DirectPlus ultra-low latency direct exchange data service is one of the numerous steps that TradingScreen is taking to provide the Buy side with some of the best tools in the business. This new concept is designed to allow for rapid deployment of low latency market data for our clients following on our tradition of simplifying global markets,” says Philippe Buhannic, President and CEO of TradingScreen.
TradingScreen’s flagship product, TradeSmart, is a customizable front-end GUI (Graphical User Interface) that enables buy-side clients to trade a broad portfolio of financial instruments, around the clock, on any market and with a wide range of counterparties. TradeSmart is unique in its ability to aggregate multiple-dealers and multiple products onto a single screen format for electronic order routing. Its ASP (Application Service Provider) model is designed to enable very rapid deployment and activation of users into live trading and incorporates comprehensive and intuitive access to the proprietary algorithmic trading strategies offered by many of the leading global brokers. TradeSmart also makes available a number of the modules that support other order management activities such as Allocations and Position and P&L tracking.
Interactive Data’s DirectPlus is a fully-managed ultra-low latency direct exchange data service that utilizes sophisticated tools that are designed to optimize data delivery, monitor bandwidth latency and centrally implement data format and protocol changes, which can help TradingScreen to minimize the costs and mitigate the technology complexity that can be associated with direct-to-exchange feeds.
TradingScreen will co-locate their EMS platform alongside DirectPlus at the New York metropolitan data center of BT Radianz, a leading global provider of financial services connectivity. Capturing data at the delivery point is designed to help TradingScreen ensure ultra-low latency data delivery to customers.