Financial services group Otkritie Capital has partnered with QuantHouse to launch low latency market data for Russian exchange MICEX, via the companys QuantFEED solution.
The competitive advantage that Russia-based Otkrities international clients will now have in terms of market data latency, in combination with Otkrities order routing into Moscow, will give them a direct link into the matching engine. Global participants in the local securities market will also be able to get Russian data through a consolidated feed.
The partnership will meet the demand for high-speed technology from alternative venues, brokers and high frequency trading firms as they look to take advantage of the growth within the emerging markets.
QuantFEED, the companys end-to-end ultra low latency market data feed, captures raw data from within the exchange, performs microsecond decoding and delivers normalised data through a single API (C++, Java or C#). Prior to this, Otkritie deployed standard FIX market data and API, for only Moscow clients.
The next phase will be the launch of RTS market data, primarily the Russian derivatives market, before the end of 2011.
Nils Jahn, managing director of Global Electronic Trading at Otkritie Capital, commented: The Russian market is relatively underdeveloped in terms of electronic trading while the demand for fast and efficient trade flows for Russias local exchanges is high. In combination with our network upgrades and expertise in multi-frequency trading solutions, the addition of a quality multi-market data feed, will give us a more complete offering to many latency sensitive clients and prospects.
Stephane Leroy, head of Global Sales & Marketing at QuantHouse, concluded: It is clear that legacy systems are preventing financial firms from keeping pace with their competitors. Investments needed to support these firms have limited their participation in Russia until now. This partnership is an efficient solution for anyone who wants to enter this market rapidly leveraging QuantHouse cutting-edge technology.
(JDC)