Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics, and related services, today announced that its Real-Time Services business will offer DirectPlus, a new ultra-low latency direct exchange data service.
The service, which is planned for release in the second quarter of 2007, is designed to provide customers with access to sub-one millisecond data for powering a range of low latency financial applications, including algorithmic trading engines and order management systems.
DirectPlus is a fully managed service that leverages Interactive Dataâs high-performance ticker plant for delivering ultra-low latency data despite massive increases in data volume. It utilizes sophisticated tools designed to ensure data quality and optimal latency, and centrally implements exchange data format and protocol changes, which can help eliminate the need for customers to deal with these issues. DirectPlus also monitors bandwidth capacity, which is designed to ensure that all incoming exchange lines and feeds to customer applications have the necessary capacity.
With these features, DirectPlus is designed to help customers overcome a range of challenges, including the high-costs and complex technology that are often associated with establishing direct-to-exchange feeds.
Upon its release, DirectPlus data coverage will include NYSE Openbook (including âBest Quotesâ), Nasdaq Level 1 and SingleBook, ArcaBook and Direct Edge ECN. Interactive Data plans to continue to expand the universe of direct data delivered through DirectPlus.
In addition to ultra-low latency data from these sources, Interactive Data offers customers a range of other optional services that complement DirectPlus. These include: global exchange data from the over 450 sources available via PlusFeed, Interactive Dataâs real-time consolidated feed, tick histories, global news, reference data, corporate actions, fundamental data, calculated indicators and OTC market data.
By providing access to multiple liquidity pools, ultra-low latency data and offering a seamless integration into a comprehensive tick history database, DirectPlus can be used by customers as they seek to meet the âbest executionâ compliance mandates stipulated by Reg NMS.
DirectPlus will be hosted at the New York metropolitan data center of BT Radianz, a leading global provider of financial services connectivity. By utilizing Radianz Proximity Solution in New York, customers can co-locate their applications alongside DirectPlus, which can enhance ultra-low latency by capturing data directly at the delivery point.
âHistorically, it had been very expensive and technically challenging for firms to establish direct-to-exchange datafeeds for their low-latency financial applications,â said Mark Hepsworth, president of Interactive Data Real-Time Services. âWith DirectPlus, we will provide customers with a turnkey offering that leverages Interactive Dataâs expertise in the collection and delivery of ultra-low latency data within the secure hosting environment provided by BT Radianz. This new offering is designed to help a broad range of clients, including hedge funds and buy- and sell-side firms, more quickly and cost effectively access and utilize sub-one millisecond data for their most innovative financial applications. And because DirectPlus is fully-managed, we remove significant technology burdens from customers, freeing up more of their time to focus on their core strengths of developing and enhancing proprietary financial systems. We are also offering a range of other services to support their trading strategies.â