Rosenblatt Favours NYSE Technologies’ SuperFeed for Global Market Data

Institutional agency broker Rosenblatt Securities has deployed NYSE Technologies’ hosted SuperFeed market data service. Rosenblatt will use SuperFeed to power what it terms its “cloud-based ticker plant,” which serves as the basis of its transaction cost analysis and imbalance tracker.

The search for a new vendor started late last year with Rosenblatt looking for the best technology to deliver high quality market data and a flexible and future-proof solution that would meet its ongoing needs with respect to reliability, quality, support and cost, according to sources familiar with the implementation.

From a shortlist of three vendors the company selected NYSE Technologies’ SuperFeed and started to use the service’s consolidated national best bid and offer data, as well as trade data from US equity markets, in May.

SuperFeed provides data to Rosenblatt’s cloud-based ticker plant to support the agency’s pre- and post-trade transaction cost analysis tools. It also powers the company’s Imbalance Tracker, which provides a real-time view of supply and demand in individual securities around the open and close of trading.
Richard Rosenblatt, CEO of Rosenblatt Securities, says: “Our transaction cost analysis requires huge quantities of data delivered through high performance, reliable systems and we are delighted with the results we’re getting using SuperFeed. SuperFeed is an important component of our cloud computing technology efforts.”

Commenting from a user’s point of view, Justin Schack, director of market structure analysis at Rosenblatt, adds: “We have a team of professionals working on transaction cost analysis for institutional customers and they need rich data. SuperFeed is the best product for us as it provides all the data we need and it is proving to be very cost efficient.”

While Rosenblatt has opted to use SuperFeed as a managed service from NYSE Technologies, it can also be deployed at a customer site. In 2008, when NYSE Technologies acquired Wombat, whose feed handlers formed the basis of SuperFeed, most customers managed the software themselves. But Glenn Wasserman, senior vice president of NYSE Technologies, has since seen an accelerating trend of customers looking for managed services.

“SuperFeed is a great total cost of ownership story for customers and an ultra low latency solution from a company that knows market data through and through,” says Wasserman. “The hosted aspect is compelling as it minimises user spend on equipment to get data. The user has an application programming interface to access SuperFeed data in the cloud and pays only for what is needed. With market data growing at a rate of 30% to 100% a year, the need for our customers is to focus on required data and lower the slope of growth in terms of bandwidth, processing power and cost.”

Chris Zanelli, SuperFeed product manager at NYSE Technologies, adds: “SuperFeed is also flexible, allowing customers to choose how and where they spend their money to find optimal solutions to market data problems. For example, a customer could select to have market data delivered to its own site, which requires bandwidth, or it could use SuperFeed as a managed service. Alternatively, it could move its servers to the mountain of data and take advantage of our collocation services.”

The SuperFeed market data ticker plant and distribution system is comprised of NYSE Technologies’ Feed Handler Suite, Data Fabric middleware and the company’s SFTI network, a combination that Wasserman claims gives companies such as Rosenblatt the data they need from a single provider. He says: “We can help customers achieve goals of cost savings and excellent service. They need reliable, real-time information, not misinformation or missing information. SuperFeed can provide reliable low-latency market data and minimise or eliminate any issues in the data.”

Looking forward, NYSE Technologies plans to add more market data venues to SuperFeed, improve its underlying technology and make sure the cloud’s data capacity outpaces market data growth rates.