First Derivatives (AIM: FDP.L, ESM: FDP.I), a leading provider of software and consulting services to the capital markets industry, today announces that its Delta Stream product has been selected by EBS, ICAP’s market leading electronic FX business, as part of a new Data Analytics as a Service initiative. The solution will build on EBS’s ability to maximise execution rates at best prices and demonstrate that capability to existing and potential new clients. It is provided under an initial three year managed service contract.
EBS is a leader in the foreign exchange market, operating both order-driven and quote-driven trading platforms via EBS Market and EBS Direct respectively. As a result of the growth in quote volumes and an increasing number of market participants, EBS has selected Delta Stream to provide data analytics to further optimise the trading experience within its platforms. The managed service will be hosted by First Derivatives and following a rapid deployment is expected to be live by Q2 2015.
Delta Stream, which is powered by the world’s leading Big Data database technology kdb+, captures, stores and analyses large volumes of data within a single platform. It is used extensively in the financial markets where it is used to capture billions of equity, FX and fixed income tick data updates per day and perform analysis of that data in real time.
Viral Tolat, CTO and Global Head of Products at EBS, commented: “We look forward to working with a leading partner like First Derivatives to enhance our customers’ trading experience with best-in-class execution analysis. Advanced data analytics allow us to enhance the EBS offering ensuring we are at the forefront of professional FX trading technology.”
Brian Conlon, Chief Executive Officer of First Derivatives, commented: “We are delighted to have secured this contract with EBS, one of the world’s leading electronic trading platform providers. The selection of Delta Stream to enhance EBS’ analytics capability is further evidence of the power of the Delta platform and the underlying kdb+ database technology.”
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