SunGard announced yesterday the release of a new version of its Fame data management software for market that’s designed to provide financial firms with the ability to analyze and back test tick-level pricing data on an intraday basis.
The new software package, called Fame 10, combines tick data with historical data to help firms analyze and predict trends based on prior patterns of events. In addition, Fame’s tick-level data can be used for creating valuation models for trading strategies and capturing upside movements throughout the day and providing user-defined weekly pattern frequencies appropriate to a firm’s particular data set.
“Firms typically use Fame to create valuation models over time using historical and end-of-day content,” said Gerry Murphy, president of SunGard’s brokerage and clearance business, which includes the Fame product line. “With Fame 10, tick-level data has been added to help firms understand market trends and patterns to properly analyze companies and sectors and position themselves for new opportunities,” he said.
Fame 10 also complements a firm’s low latency strategies by providing the ability to create models that allow for back-testing and refinement of trading scenarios, as well as interfacing with real-time trading and feeding risk applications with intraday content.
Financial institutions must cope with increasing amounts of data to mitigate risk and identify trading patterns and opportunities. With the growth of algorithmic trading and shorter time horizons for processing data in the current volatile market, firms are more compelled to test trading strategies in an intraday environment to help them capture opportunities and extend current trading strategies beyond the end of the day.
“Market data volumes are expected to continue to grow exponentially, further straining market data infrastructures,” according to a report on market data issued by Aite Group last month. “If U.S. equities message volumes continue to grow at their current pace, they should average 1.2 billion messages per day by 2011,” the Boston-based firm predicted.
Fame’s market data solution is the most popular product within the Fame suite of with 120 customers. Fame also includes historical data and reference data cleansing engines. The latest upgrade allows SunGard to expand its reach beyond research departments and quant desks to algo traders and risk management departments, said Anthony Scianna, executive vice president of SunGard’s brokerage and clearance business.
Chris Kentouris is senior international editor at Securities Technology Monitor. Chris can be reached at by email.
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