20 Sep 2018
Velocity Analytics, our high-performance market data analytics platform, is now available as a managed data service. From costs to innovation, what are the main benefits for financial institutions?
- Rising data management needs are prompting firms to examine the “total cost of service” for their data warehouses and analytics solutions.
- Services-oriented architecture or platform services ensure the optimal mix of controlling costs while still allowing innovation and digitization.
- Our Velocity Analytics platform, powered by Kx, is now available as a managed data service. It allows users to focus on value-added capabilities.
With data volumes and the regulatory burden increasing rapidly, the cost of technology services, in relation to data management, is under even greater scrutiny.
There’s now much more pressure on firms to ensure they deploy employees in areas of value and core competencies, rather than just on managing technology platforms and related infrastructure.
In this context, organizations have been examining the total cost of service of many of their data warehouses and analytics solutions.
They are also looking at the opportunity costs to determine whether data services can be outsourced and managed by specialized service providers.
Which major operational challenges can be met by a managed data service?
- Dealing with 24/7 complexity
When calculating the total cost of ownership and service, one of the most difficult aspects to quantify is the human cost of maintaining and supporting a platform.
Providing 24/7 support for all services, ensuring data quality and providing ongoing maintenance for an organization operating in many regions is extremely time-consuming and can be costly
On top of this, finding staff with the right expertise and ensuring that they are fully trained can be a challenge.
- Better use of resources
Spending less time on non-core services and focusing on the areas that generate revenue is a key consideration for financial institutions.
Specialized managed services supported by trusted partners free valuable resources to focus on unique value propositions. This is extremely valuable to firms, regardless of their size and the complexity of their requirements.
- Speed to innovation
The increased attention on improved agility and the ability to differentiate offerings from others in the marketplace have made an increasing number of financial firms prefer integrated solutions for time series analytics.
These are delivered through a light footprint and a services approach to both data and the related infrastructure.
This approach also helps them meet the need for a model that resonates with the new generation of employees and something that can be implemented globally very quickly.
Services-oriented architectures or platform services are a way to ensure the optimal mix of controlling cost and allowing innovation and digitization to happen.
Velocity Analytics Service
Our Velocity Analytics platform, powered by Kx, is now available as a managed data service.
Velocity Analytics takes care of non-differentiating business and IT processes while allowing users to develop value added capabilities.
There is a reduction in technical debt and easy disposition of technical assets through leasing models.
- Data is mapped and supported from the feed into the analytics platform, e.g. the normalization of market data.
- Data quality is serviced to an agreed standard.
- Data can be dynamically adjusted on the fly — e.g. support for corporate actions or cancellations/corrections of tick data.
- Easy-to-use data retrieval APIs.
- Easy-to-use analytic APIs.
- Velocity Analytics covers the entire trading cycle, from pre-trade to post-trade and includes over 60 out-of-the-box analytics, including:
- Transaction Cost Analysis (TCA).
- Order Book Reconstruction.
- Risk and Compliance Analytics (MiFID II…).
- And many more.
- Ability to create custom analytics and apps on the platform.
- Ability to publish third-party data into the platform, such as orders/executions and RFQ data.
- Proactive support and monitoring 24/7.
Managed data service benefits
We have extensive experience in hosting and managing data services for our customers. Elektron as a Service offers a suite of hosting and delivery solutions to suit customer requirements.
We strongly believe in the association of customer value with the power of integration. Velocity Analytics Service is an offering that integrates our world-class services for data distribution with the power of Velocity Analytics.
The offering is a fully integrated solution that enables clients to democratize data collection and analytics across their organization to unlock insights, both in real time and over longer time spans.
To support the development needs of our customers, our experts provide unrivaled expertise in running the Velocity Analytics platform and maintaining all elements of the service.
As a truly global partner, we have the presence to power your business.