Rik Turner, Senior Analyst, Financial Services Technology

NYSE Technologies, the technology products and services arm of the New York Stock Exchange, is teaming with UK software developer First Derivatives to launch “Tick As A Service,” an offering that will enable firms carrying out backtesting on algorithms and compliance checking to access large volumes of historical tick data directly from its facilities.

Payment is currently by monthly subscription rather than on a pay-per-use basis, and the data is presently stored separately for each customer, but the plan is to move to a central store, which suggests on-demand payment will become possible.

Ovum sees the launch as a further sign of the advance of cloud in the financial markets and recommends that companies with large-scale backtesting or compliance workloads consider the new service.

Data-as-a-service helps reduce capex on hardware and management

The partnership with First Derivatives is designed to enable companies that …