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Why consume Tick History via the cloud?

Gavin Carey
Gavin Carey
Head of Enterprise, EMEA, Refinitiv

Tick History, our real-time archive of market data stretching back to 1996, has benefits for compliance reporting as well as the #SearchForAlpha. Find out how moving this data into the cloud improves these benefits even further.

  1. Tick History is our real-time archive of market data covering every trade, quote, and asset class from over 400 venues and other specialist data sources.
  2. Tick History addresses the regulatory burden faced by financial services firms on MiFID II best execution, compliance reporting, or market abuse monitoring.
  3. The cloud enables customers to use only what they need and when they need it, further reducing cost and complexity in their market data management.

In early October 2018, I was at the Google Cloud Next Conference in London, to speak about the potential of using Tick History in the cloud.

As our interconnected world grows in complexity, the big data at the heart of financial markets is becoming increasingly challenging and costly to manage.

Gavin Carey at Google Cloud Next Why you should consume Tick History via The Cloud
Gavin Carey at the Google Cloud Next Conference in London

Data platforms such as Elektron help to meet these pressures by combining our own and third-party content with the tools you need to manage market data, analyze it, and derive insight.

But given the ever-increasing volume of data, it’s clear that the public cloud has an essential role to play.

The cloud brings with it storage and computing resources that really allow you to take insight to the next level and enable you to work really successfully with big data.

A good example is the combination of cloud technology — such as Google’s BigQuery — and our historical market data.

Benefits of Tick History

Our Tick History service is an archive of data from global real-time networks since 1996. This means every trade, every quote, and related fields, covering all asset classes, from over 400 venues and other specialist data sources.

Alongside this real-time archive, we carry cancellations and corrections as well as corporate actions and historical reference data to help place it in context, and multiple industry symbologies to provide concordance with other data sets.

This data is incredibly valuable in many use cases within financial services.

For example, it can help to respond to the ever-growing regulatory burden, such as for compliance reporting or market abuse monitoring.

In the case of MiFID II requirements, it is a critical agent of SI determination and compliance with RTS 27 and RTS 28 best execution reporting.

All require the co-mingling of accurate, trusted, market data, along with a firm’s own trade logs.

Other uses include back-testing algorithmic trading strategies to determine their behavior against historic real-world scenarios, in addition to alpha-seeking activity that is searching the data for trading signals.

Many of these use-cases are seeing renewed interest in the first of machine learning— and artificial intelligence really does thrive on good data.

Data storage savings

We currently add somewhere in the region of 4TB of data to the archive every day and globalization means that users of the service need to access increasingly broad slices of what is already an incredibly large data set.Tick History is Big Data. Why consume Tick History via the cloud

The Tick History service offers an incredible benefit to our customers.

They no longer need to record a real-time stream themselves to satisfy their use cases. Moving this archive into the public cloud improves these benefits even further.

Doing so removes the need to move large data sets across networks — a task that can often be measured in weeks or months, and where a truck of tapes still often wins.

There’s also no need for customers to provide sufficient storage for the data at their site, or worry about backup and disaster recovery requirements — saving significant cost, and complexity.Benefits of Tick History Data in Google Cloud. Why consume Tick History via the cloud

Moving compute to the cloud also means customers use only what they need and when they need it, further reducing cost and complexity of intermittent use-cases, while getting them done faster.

At Google Cloud Next, I concluded with real-world examples of the power of Tick History and Google BigQuery working in partnership. We will make these available to you online. In the mean-time, please reach out to me, or your Refinitiv account team, to hear more.

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