Taking direct feeds from exchanges into proprietary systems rather than from market data suppliers drives down market data latency. But forgoing the added value of a consolidated feed can be a bumpy road with new data management challenges.
Data can be messy for many reasons. There is no time synchronization between liquidity venues. Exchanges use different message protocols—especially in emerging markets—and instrument identifiers, which complicate cross-border trading. Exchange data can wind u
Bryan Harkins joins to discuss how the CBOE-Bats integration is going and plans for the exchange operator going forward. Anthony and James talk about the SEC hack and Esma's potential new powers.Subscribe to Weekly Wrap emails