To support its growth in trading volume, CME has launched its new market data distribution system, CME Market Data Platform (MDP), which will consolidate the exchange’s existing CME Market Data Network (MDN) and CME Market Data API (MD Application Program Interface) into a single market data dissemination platform.
The new platform and interface were launched the evening of Sunday, July 31 in order to coincide with the opening of trading on CME Globex electronic trading platform. CME MDP will combine the benefits of the two systems previously used by the exchange while delivering market data messages more efficiently, using less bandwidth and providing the scalability for future data growth for customers and market data quote vendors.
“The introduction of this platform is a new method for the dissemination of CME market data in order to better serve our customers in a time of exponential growth in data messaging,” said Rick Redding, Managing Director, Products & Services. “Because we have been able to streamline messaging formats via the new platform, we can take advantage of our industry-leading technology infrastructure to make market dissemination more efficient and scalable for future volume growth. We realize that market data is crucial to the success of our customers and we believe the launch of CME MDP meets their business needs.”
A key benefit of the new CME MDP will be the introduction of a channel-based approach so that specific CME markets will be divided onto separate channels. The platform will now offer all customers, rather than just quote venders, the ability to choose from a menu of different multicast addresses that will define a channel, while customers who wish to receive all market data messages can subscribe to every channel. Each channel will also have a separate replay channel that will replay requested data on dual, multicast feeds.