- Revolutionary licensing model
Connamara Systems, LLC (Connamara), providers of end-to-end trading systems, market data solutions and development services, today announced the release of its Tradeable Asset Document Database (TADD).
TADD - built for securities trading organizations, including exchanges, clearing houses, commodities traders, market makers, broker dealers, hedge funds, and securities accounting providers - utilizes evolutionary document-based architecture to store all defining information on tradable securities.
Connamara's TADD streamlines data collection and functions as a central repository for tradable assets. The solution is designed to replace the fragmented databases currently in use by many organizations. TADD interfaces with platforms requiring data on securities, including trading systems, risk management systems, back-office accounting systems and algorithms.
The document-based nature of TADD incorporates all the information of a given security into a distinct document for that security. This is in contrast to most securities databases, which operate using a relational model in which a security is defined by it's relation to other securities. The relational model can create problems when organizations begin trading or servicing an additional asset class, as they are forced to define those securities by relation to the securities previously supported.
Currently, TADD supports equities, equity options, futures and options on futures, though asset classes can be added very easily by creating a new document-type containing all the information pertaining to the asset class. Thus, TADD greatly simplifies the process of adding new asset types, helping institutions bring new strategies to market much more quickly.
Connamara built TADD to replicate new additions and update in real time.
This provides clients with the ability to efficiently maintain a central repository, hosting data on all products. The solution also allows for advanced and customized filtering to isolate securities by various user requirements, including root symbol, instrument type and instrument category.
Jim Downs, Connamara founder and chief executive officer, explains, "Until now, expansion into new asset classes and even gathering all the necessary information on existing securities has been a major drain on an organization's resources. TADD makes scaling painless, efficient and less costly. Organizations that are growing or looking to streamline their operations are finding tremendous economical advantage to the document-based approach."
Connamara sells TADD using its trademark payment model - consisting of a one-time licensing fee - in which the code is consigned. There is no fee for each additional document added to TADD.
Downs adds, "We at Connamara believe in putting our clients ahead of the curve. Our model embraces the marrying of ideas and concepts that help our clients drive progress and carry the industry forward."
Clients can deploy TADD themselves or elect to have Connamara host the solution. Integration takes a matter of days.
TADD uses a RESTful JSON API, which are technologies supported by all popular programming languages including Java, C++, C#, and Python, and offers C++ and C# libraries.