IMD & IRD Awards 2020: Best Enterprise Data Management Initiative—MayStreet

Inside Market Data & Inside Reference Data Awards 2020

Patrick Flannery, MayStreet

MayStreet wins this year’s Best Enterprise Data Management Initiative award for its market data infrastructure platform that delivers enterprise-wide, comprehensive, high-quality capital markets data. 

The end-to-end platform provides real-time, intraday and historical data through a single application programming interface (API) – supporting firm-wide workflows, from trade execution and surveillance to instant market analysis, end-of-day reporting, historical backtesting, and more. This ability for the front, middle and back offices to be able to access the same data, in a way that meets their individual requirements, enables MayStreet’s clients to reduce IT spend, improve performance and increase automation.

The company was founded in 2012 by former software engineers Patrick Flannery and Michael Lehr, who both have deep expertise in building market data systems for market-makers and proprietary trading firms. They recognized the imperative for capital market firms to effectively extract value from the ever-increasing volumes of market data in order to remain competitive, and set out to solve the massive performance drag that inefficient market data infrastructures can cause.

CEO Flannery says: “It’s no secret that over the last decade or more, trading has become faster, more fragmented and far more reliant on uber-sophisticated, technology-driven market making firms. Not only is there exponentially more market data for market participants to deal with, but there are also far more internal users of this data within a bank, broker or investment management firm’s enterprise. For the technology organizations at these firms, capturing, processing, storing and consuming this data is extremely difficult. Adding to these challenges is the fact that even a few lost data packets here or there could mean huge sums of money lost on bad trades or regulatory fines. That’s where we come in. We handle all of this so that market participants can focus on their core business and not worry about being market data technologists.”

Flannery admits that MayStreet has maintained a relatively low profile until now. “We have always thought it best to let actions speak louder than words, so for that reason we sort of purposefully remained under the radar while we built out our platform. We’re now eight years in to this endeavour, and truly believe that we have the technology, team and market opportunity needed to rapidly scale our business.”

In November 2019, the company became the data provider for MIDAS, the Securities Exchange Commission’s internal analytics platform that is used to power the agency’s market surveillance and investigatory efforts. It also closed a Series A financing round in June 2020, with plans to accelerate growth through the full globalization of its platform across asset classes, further product development and the expansion of the company’s sales and marketing presence.


Read more about the Inside Market Data & Inside Reference Data Awards 2020 winners

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