IMD & IRD Awards 2020: Best Data Analytics and Technology Provider—dxFeed

Munich-headquartered dxFeed takes home the award for Best Data Analytics & Technology Provider thanks to its wide range of services that help clients, including flagship customer TD Ameritrade, navigate the markets.

A subsidiary of trading platform provider Devexperts, dxFeed was officially launched in 2009, taking the internally created data offering of Devexperts and forming a standalone data vendor business.

From the outset, dxFeed had aspirations to be more than just another data vendor business. CEO Oleg Solodukhin says: “We didn’t want to be just another consolidated datafeed or infrastructure provider, there are plenty of companies that are in that space. We wanted to differentiate by offering more in the package and also by the ability to customize that package to client needs.”

Initially, dxFeed served existing clients of Devexperts, but its approach and ability to customize what it has out of the box has enabled it to win a number of larger corporate accounts. The company uses a microservices approach, which combines easily with clients’ existing technology landscape. This approach has also allowed dxFeed to productize some of the solutions that were initially custom-made for clients, and from this it has built up a portfolio of services around the consolidated datafeed.

Besides the provision of real-time and delayed data, dxFeed has historical tick data dating back to 2010, as well as a market replay service and aggregated data services for charting applications. An example of one the company’s latest product developments is its Iceberg Detection Service for the CME, which forecasts overall market movement through iceberg order prediction and detection. It has also launched an Options Scanner platform, that enables real-time scanning of the whole universe of options by a range of criteria.

All of dxFeed’s service are available in the cloud, with its relationship with Amazon Web Services dating back to 2009. For some bigger clients, it also completely manages the data infrastructure. “We can deploy on our infrastructure or in the cloud and scale as needed,” says Solodukhin. “A retail brokerage client, for instance, may have 1,000 clients or 10,000, 100,000 or maybe a million. We can scale our front-end, while the clients can focus on what matters for the business.”

A number of developments are on the horizon for dxFeed: for instance, in the historical data business there are plans to enable clients to access hosted analytics in the cloud. Significant developments are also slated for the index side of the business, with a new version of the Index Management Platform due to be released, along with associated new products.

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