Sell-Side Technology Awards 2020: Best Alliance or Partnership—QuantHouse and SpiderRock

In September 2019, QuantHouse and SpiderRock Gateway Technologies, the data and analytics arm of SpiderRock, announced their alliance and intention to add SpiderRock’s proprietary data and analytics service to more than 150 data sources available via QuantHouse’s API, QuantFEED. That move has won the duo best alliance or partnership in this year’s Sell-Side Technology Awards. For QuantHouse, it’s a win two years a row in this category, as the algo-trading solutions provider brought home the title in 2019 for its partnership with ARQA Technologies.

The latest partnership marks the first application of QuantHouse’s API to deliver datasets beyond outright market data. SpiderRock’s Real-time Options Analytics and Data Feed, which is part of QuantHouse’s managed service, provides clients implied volatility, Greeks, risk slides, and volatility surfaces across all US-listed equity and futures options. It also integrates this in real-time with key elements of the raw feeds, allowing clients to optimize their trading and risk management systems. QuantHouse decodes and normalizes market data from more than 150 sources, simplifying workflow across regions and asset classes by providing a unified format and single API for every data source.

As market data becomes more commoditized, clients are demanding more datasets be made available over the QuantHouse API so they can leverage tools such as backtesting, normalization, recording, and replay, says Salloum Abousaleh, QuantHouse Americas managing director.

“Our growth over the past year has mainly been driven by the broad adoption of algorithmic trading throughout the industry,” he says. That broad adoption has, in part, been fueled by the rise of the “quantamental” movement—melding algo-based investing with the fundamental methods of discretionary investors.

Following the 2019 acquisition of QuantHouse by Iress, the company has entered a significant period of global expansion, and it expects to expand headcount, its feed coverage, and its datacenter presence.

SpiderRock is working on furnishing clients with access to new types of data, such as complex order books and auctions feeds for US-listed options. The company is also planning to offer more international products. Lastly, they’re working with larger clients with specific needs to deliver custom analytics data feeds for options trading and risk use-cases. 

“Our vision is to provide our clients with easy access to global options and analytics data with a full range of flexible delivery options,” says Craig Iseli, COO of SpiderRock Holdings.