Xenomorph, the analytics and data management solutions provider to global financial institutions, announced today the launch of its new cloud-based data solution for publishing and consuming financial markets data and analytics, TimeScape MarketPlace.
“From a data consumer point of view, the integration of market, reference and derived data has long been a problem for many organizations. Having to deal with a variety of interfaces, formats and data models for data has been very difficult, time-consuming and costly,” said Brian Sentance, CEO of Xenomorph. “From the data vendor perspective, historically it has also been a challenging process to deliver high quality data to wherever users would like to consume it. TimeScape MarketPlace addresses both of these issues - consumers can access data anywhere through one set of cloud-based interfaces, whilst those organizations with data to sell get the value-add data cleansing, validation and delivery tools they need.”
Building upon the success of TimeScape’s earlier release on Microsoft Azure for cloud based data management, TimeScape MarketPlace enables multi-user and multi-organization access to published data sets and analytics in the cloud, and adds integration with Microsoft Power BI for Office 365. Using TimeScape MarketPlace combined with Microsoft Power BI, users can for example easily and securely integrate positional data from a variety of on-premise databases with data and analytics from multiple vendors in the cloud.
“TimeScape MarketPlace presents a great commercial opportunity to our partners,” added Naj Alavi, Managing Director of Xenomorph's New York office. “Through Xenomorph’s partner program, data vendors, analytics vendors, software companies and managed service providers can leverage the infrastructure to deliver high quality functionality and content to wherever it is needed by clients. Data vendors can extend their delivery reach to business staff using Microsoft Power BI for Office 365 and Excel, and to developers using environments such as .NET and Java to consume web services, based on protocols such as OData. Software vendors can offer new cloud-based services without having to re-invent data integration and data management functionality for market and reference data.”
“Financial services firms are increasingly looking at cloud technology to reduce costs and increase agility,” said Virginie O’Shea, Senior Analyst at Aite Group. “Combining Data as a Service with data management completes part of the cloud technology puzzle by accelerating the innovation of new content and services through co-operation between partners sharing and building upon a common technical infrastructure.”
“Cloud-based architectures can take cost and complexity out of managing data and analytics, a key challenge for Xenomorph’s clients in a changing regulatory environment,” said Bob Kelly, Corporate Vice President, Business Development and Strategy, Microsoft. “We are pleased to see a growing number of solution providers in financial services who are building the future of their businesses on Microsoft Azure and our data platform, including Power BI for Office 365.”