OneTick to Power Training for Market Microstructure and Quantitative Finance Students
OneMarketData, LLC, a leader in tick data management and analytics, today announced that the University of Illinois at Chicago’s (UIC) College of Business Administration has selected OneTick, a single solution for complex event processing (CEP) and tick data management that spans both historical and real-time market data, to support the school’s research in market microstructure and quantitative finance.
As quantitative trading and analysis is increasingly used by sophisticated trading and investment firms, UIC has introduced specialized programs to provide its students with the tools they need to work in today’s financial markets. OneTick will be included in the school’s CME Group Foundation Market Training Lab, which offers a functional trading floor similar to that of a broker-dealer or a proprietary trading firm. The space employs workstations linked to financial databases enabling students to analyze data in the context of a trading environment. Through OneTick software, the data will be used in market simulators and ticking analytics.
“This combination of in-depth simulation theory and interaction capability is very unique,” said Dale Rosenthal, assistant professor of finance, who teaches market microstructure and electronic trading classes. “We spend a lot of time thinking about the theory of how prices are formed. OneTick will let us take that theory to the data to see how quotes respond to volatility, how market metrics change across time, and how trading dynamics change as the order book fills up. For my commodities class, OneTick will help students understand how WTI crude oil, RBOB gasoline, and heating oil trade relative to one another and how that may affect risk management.”
Assistant Professor Nitish Sinha will use the software to teach a class on financial strategies and text analysis, which focuses on how financial markets interpret and react to information. “Often the analysis involves matching market data with news data,” said Sinha. “A lot of pre-processing needs to be done before the market data gets transformed into a nice example and that can be overwhelming. OneTick automates the pre-processing and makes it easy to tweak various parameters. They also benefit from its intuitive interface with deep analytical capability. The software will be extremely useful in letting the students have a feel for market reaction to news events.”
Built specifically for the financial services industry by Wall Street veterans, OneTick’s intuitive, performance-driven design provides quants, analysts and traders with greater freedom to analyze as opposed to process data, leading to increased performance and ultimately profits. OneTick is the only CEP product in the market that solves two problems with one platform by functioning as an integrated CEP and tick database.