The Jersey City, N.J.-based operator of EDGA Exchange and EDGX Exchange said the EdgeBook Cloud dataset is being delivered via Xignite cloud technology and supports efficient market analysis, back-testing, and compliance review.

The data suite includes EdgeBook Replay, EdgeBook Flex Download and EdgeBook Snapshot and is designed to provide deep data queries that can be easily integrated with customers’ own informaiton systems, without the burden of storing mass quantities of data.

"Our goal is to make EdgeBook Cloud the most comprehensive and intuitive market data product available," said Kevin Carrai, Head of Connectivity and Member Services at Direct Edge. "Unlike other services on the market, EdgeBook Cloud provides complete proprietary book data where users can quickly obtain the specific information they need, when they need it. Analysis can be performed that isolates a particular stock, or looks at its performance in comparison with others in a real-time simulation. It leverages Xignite's cloud architecture to provide a seamless and reliable interface and is fully customizable to perform downloads in the format that is most beneficial for the user."

The three delivery mechanisms are:

EdgeBook Flex Download - Custom queries that deliver large data downloads on demand.

EdgeBook Replay - Daily quote and trade data presented in precise chronological order and containing the exact messages as they were disseminated from our data feeds.

EdgeBook Snapshot - Historical trade and quote data via an Application Programming Interface (API) that allows users to quickly automate requests for data and integrate them into their own systems.

Users can request to receive the data in a thumb drive so that they don't spend hours or days tying up a computer to download gigabytes of data, Direct Edge says

"Direct Edge is an exchange that has shown its desire to explore innovative solutions for its Members," said Stephane Dubois, CEO of Xignite. This could “push the on-demand cloud delivery of data to a higher level and set a standard that stays ahead of a rapidly changing market environment."

Xignite is the leading cloud services provider of on-demand financial market data and award-winning on-demand data distribution solutions.

EdgeBook Cloud is expected to have broad applications for use by professionals such as compliance officers, electronic traders, analysts and the academic community, the company claims.

Direct Edge signaled last October that it was preparing the EdgeBook Cloud service, with Xignite.

CME Group and Nasdaq OMX Group also use Xignite’s cloud technology for delivering data.

Last November, Nasdaq OMX Group launched a similar market data service in the “cloud” to provide individual investors, small algorithmic traders and large institutional investors with access to basic trade and order data.

The Nasdaq Data-on-Demand service provides Level 1 tick data history online so such users, eliminating “the need to maintain ever-growing in-house databases and data management infrastructure.”

This story first appeared on the Securities Technology Monitor web site.



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