Aleri Inc., a provider of enterprise-class complex event processing (CEP) technology and CEP-based solutions, announced that Investment Technology Group, Inc., a agency broker and financial technology firm, has deployed Aleris Market Liquidity Analysis (MLA) engine for real-time consolidation of trade, order and quote data across multiple exchanges and alternative trading systems.
We originally selected Aleri CEP as an application development platform based on the strength of their technology and their robust capabilities as a technology supplier. Since that time we have expanded its use by bringing in Aleris MLA platform, allowing us to produce consolidated trade, quote and order book data that is tailored to our needs, says David Meitz, managing director and chief technology officer at ITG.
Built on Aleris enterprise-class CEP technology, the Aleri MLA engine consolidates level 1 and/or level 2 market data to provide a single consolidated record for each security showing last trade, best bid/offer and related data as well as consolidated full depth order books. It is customizable, allowing the user to choose which venues to include and venue filtering can even be done dynamically, according to rules. Data can be sourced from consolidated feeds, direct feeds or a mix of the two. Other features include currency conversion using live rates for multi-currency consolidation and/or output in alternate currencies.
The Aleri architecture has been designed to be scalable, capable of handling the high throughput needed for major market consolidation with consistent low latency. Consolidated low-latency real-time market data can be streamed into consuming applications or published onto a market data platform. The Aleri high-level CEP authoring tools can be used to add custom logic to extend the server functionality with market analytics, logic for smart order routing, or trading algorithms.
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