Information giant Thomson Reuters Corp (NYSE:TRI) has made key enhancements to its data analytics platform, Thomson Reuters Velocity Analytics, to provide ultra-high-speed processing of real-time, streaming and historical data that will help EU and non-EU financial markets participants meet their MiFID II obligations.
The enhanced platform, now powered by Kx’s technology, enables a broad range of use cases such as best execution compliance, transaction cost analysis, quantitative and systematic trading. It will also support new multi-asset best execution and SI (Systematic Internaliser) determination capabilities from Thomson Reuters in 2018.
By harnessing the power of Kx technology, Thomson Reuters Velocity Analytics can now process much larger volumes of data from multiple sources in real-time. Thomson Reuters has also expanded both the breadth and depth of the historical and reference data available for processing through full integration with its Datascope Select service as well as with Thomson Reuters Pricing Services for independent evaluated prices. In addition, Velocity Analytics is integrated into Thomson Reuters Enterprise Platform ensuring that financial institutions can take advantage of their existing infrastructure investments to access streaming analytics.
MiFID II compliance is fundamentally a data challenge and the work we have been doing to completely reengineer Velocity Analytics will support financial markets participants looking for best execution, transaction costs analysis, and other high performance trading analytics,” said Brennan Carley, head of enterprise propositions at Thomson Reuters. “We want to make it as easy and cost-effective as possible for our clients to comply with the MiFID II requirements and take advantage of their existing infrastructure investments, while helping them to prepare for new opportunities for their businesses post-January 2018.
We are delighted to extend our partnership with Thomson Reuters by providing technology and solutions to power their MiFID II services offering,” said Brian Conlon, CEO of Kx. “We jointly believe that Kx technology combined with Thomson Reuters data is uniquely suited to address the data-centric challenges presented to firms by MiFID II. Therefore we are working together to continuously enhance Thomson Reuters Velocity Analytics to include data and analytics modules for pre and post-trade transparency reporting solutions for both new and existing Thomson Reuters customers.
Thomson Reuters Velocity Analytics allows financial institutions to develop market-making trading strategies, perform real-time market monitoring and regulatory compliance checks, and build real-time transaction cost models to reduce execution costs. The solution is widely used by global hedge funds, proprietary arbitrage trading desks, brokerage firms, exchanges, regulatory agencies, third party transaction cost analysis firms, algo execution desks, and many other types of businesses in the trading community. The direct integration of Thomson Reuters data into Velocity Analytics provides an optimal platform for streaming and big data analytics, as well as low-latency, in-memory and event-driven analysis as data passes through the platform.