Solutions: Capital Markets

With StreamBase, global investment banks, hedge funds, proprietary traders, and exchanges get the fastest way to profit from their real-time market data.

In the demanding environments of algorithmic trading, feed processing and conditioning, pre-trade compliance, transaction cost analysis, and risk management, traditional custom-coded infrastructures are being outpaced by the speed and volume of the data hitting their organizations. Capital markets firms must be able to quickly capitalize on the massive amounts of internal and external streaming data today, not months or years from now. And, point solutions are often unable to meet the demanding analytic needs of multiple organizations across the firm.

Some of the capital markets challenges being addressed through StreamBase include:

FX — StreamBase provides pre-built connectivity to existing major FX market data feeds and allows you to ingest and normalize data from multiple venues. StreamBase also allows you to abstract order syntax and semantics and create a consolidated order book showing top of book and depth of book.

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Market Data Management — In today's extremely volatile market landscape, market data volumes and data complexities are increasing at an unprecedented rate. Firms need to be able to capitalize on this volatility and data complexity by rapidly developing, back-testing and deploying trading strategies.

The StreamBase Market Data Management Framework addresses these needs by providing buy- and sell-side firms with an integrated development environment for developing trading strategies, connectivity to tick stores for back-testing capabilities, and the ability to rapidly deploy those strategies that are successful from a historical perspective.

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Smart Order Routing — As markets become more and more fragmented, it is becoming increasingly difficult to achieve best execution while minimizing market impact. Both buy-side and sell-side trading organizations need the tools to search for hidden liquidity and icebergs, detect dark pools and maximize results and minimize market impact through the use of execution algorithms.

The StreamBase Smart Order Router provides a flexible, high performing system that allows for best execution by correlating events from multiple sources to enable liquidity detection, even in increasingly fragmented markets. The StreamBase platofrm also intelligently routes orders to ensure best execution, maximize fills and minimize market impact.

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Real-Time Profit and Loss — Trading organizations need real-time profit and loss alerts and reporting aggregated across multiple regions, desks, and asset classes. Among the real-time proft and loss capabilities needed are the ability to collect trading positions and executions, the collection of pricing from market data feeds, the ability to calculate total profit and loss and the ability to provide real-time alerts.

Hedge funds, investment banks and other capital markets firms implement StreamBase's real-time profit and loss solitions to collect trading positions and executions to calculate the total profit and loss in real-time.

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Algorithmic/Automated Trading — Traders have always relied on the insight that comes from the most up-to-date information available. This information is critical for acquiring a profitable position and managing the associated risks. StreamBase brings competitive edge to leading buy-side and sell-side firms by computing value-added analytics (e.g. VWAP, Black Scholes) and filtering ticker data from multiple sources to capture time-critical events such as best bid/ask. Additionally, StreamBase can run sophisticated intraday trading algorithms and also maintain order book positions in real-time. StreamBase's stream record/playback capability and graphical development environment also allows rapid prototyping and back-testing of new strategies. This enables traders to quickly capitalize on new market opportunities in real-time from across multiple asset classes and global exchanges.

Click here to view an example of time-series market data streams flowing through a StreamBase query. StreamBase Studio provides an integrated environment for creating StreamBase applications that capture and analyze market data.
Transaction Cost Analysis — Firms looking to measure and optimize execution quality and costs can use StreamBase to compare past trading history to the history of executed transactions and compute customized execution-quality metrics for various sources of liquidity. With StreamBase, firms can closely monitor time-sensitive or cost-sensitive orders on-the-fly, alert traders in real-time when an execution fails to meet target metrics, and enable traders to change strategies before orders are filled.

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Reg NMS, Best Execution & MiFID — Management of the compliance process is an increasingly daunting task, particularly with complex regulations associated with Reg NMS, Sarbanes-Oxley, and the USA Patriot Act, and guidelines from agencies such as the SEC and NASD. StreamBase enables institutions to continuously monitor pre-trade data to ensure strict compliance with pre-defined internal and regulatory trading policies before the trade is executed. With StreamBase, organizations monitoring compliance can also easily modify compliance rules via graphical interface, thereby ensuring that exceptions, abnormalities and non-compliance issues are always identified without posing an excessive maintenance burden on IT organizations.

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Market Data Feed Processing/Infrastructure — Capital markets firms that leverage high volume real-time data from consolidated feed vendors and exchanges need to ensure trading operations and other consumers always receive just the data they need — with the lowest latency, highest quality, and greatest reliability possible.

These organizations leverage StreamBase to monitor the data coming into their ticker plants and feed handlers, trigger alerts if latency drops below acceptable levels, normalize symbology, filter massive data streams to pass only selected data downstream, route the first arriving quote from across multiple exchanges to traders, and calculate real-time statistics on quality of service from feeds.

Companies also use StreamBase's capabilities to merge or filter multiple streams, manage out-of-order or late data, filter outliers, and detect and alert to feed problems.
Risk Management — Risk management is fast becoming a real-time necessity. Risk management applications must monitor positions and P&L across multiple trading operations, and track movement of all market variables for each risk model they are running. With StreamBase, market data and positions can be continuously evaluated across all activities in which the organization is engaged, ensuring maximum profitability of trading operations with minimized risk. And, StreamBase's 64-bit architecture offers significant performance gains to leverage in-memory processing of the large datasets typically required for enterprise risk applications.