Appsbroker launches Cloud Data platform to deliver lower-cost market and reference data
Appsbroker, one of Google's largest European Premier Cloud Partners, has launched Appsbroker Cloud Data, the first native Google Cloud market data platform.
Appsbroker Cloud Data delivers 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.
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 standardised, 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 standardised 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, says: “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 recognise the challenges that exist around data standardisation and understand the industry frustration with the quality of APA data in the market.”
“We have set out to bring innovative Google technologies to bear on these issues; Appsbroker’s Cloud Data platform was developed in response to client demand for enhanced data quality, accessibility, flexibility and pricing.”
Wolcough adds: “We are committed to working with regulators and market participants to address inconsistencies in market data. We want to raise the game around data accuracy and data quality.”