Appsbroker looks to cut market data costs in the cloud, tackles MiFID II compliance

Appsbroker announced the launch of the first native Google Cloud market data platform, which the European company said in a statement will deliver buy-side and sell-side firms greater flexibility in accessing market data at a lower cost compared to existing offerings, removing the dependencies on legacy market data infrastructure and proprietary distribution technology.

Market data costs have long been a point of contention in the industry. Recently, the US Securities and Exchange Commission ruled that exchanges NYSE and Nasdaq did not justify data fee increases, which puts pressure over the cost of trading data, a spokesperson noted in an email statement.

The first data set launched on the Cloud Data platform is an APA (Approved Publication Arrangements) Aggregator, designed to help firms achieve better market insights and prove compliance with MiFID II requirements such as best execution. The APA Aggregator connects to a number of firms, approved by the European regulators to operate as APAs for regulatory reporting under MiFID II, which publish trade reports for post-trade transparency on behalf of market participants. The asset classes covered are non-equities, including bonds, commodities, fixed income derivatives, equity and commodity derivatives.

Using standardized, flexible mechanisms that can quickly and easily accommodate new data sources, the APA Aggregator brings essential data to trading floors and to risk and compliance teams in three ways: real-time data, delayed data and a queryable historical database. Appsbroker’s APA Aggregator deploys a set of standardized Google components to aggregate APA data, eliminating the need for multiple feeds and services.

Clients benefit from a single fee model regardless of how they consume the data. Appsbroker Cloud Data is easy to integrate into buy-side and sell-side trading desks, delivering market data via accessible APIs and intuitive user interfaces. Alex Wolcough, director at Appsbroker Fintech, said: “In a post-MiFID II world, accuracy and reliability of data is core to regulatory reporting and compliance and provides increased levels of transparency in financial markets. We recognize the challenges that exist around data standardization and understand the industry frustration with the quality of APA data in the market.”

Read the full announcement

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