Logiscope Nick Dyne Managing Director
PREVIEW 2001
Logiscope provides a range of installation, support and consulting services for trading rooms. Its development implementation and support of the products provides solutions to the connectivity requirements of the trading room environment.
What is the most important thing that happened to the market data industry last year?
Two things - Thompson buying Primark -- the question is whether they will be able to take on Reuters and Bloomberg. The second thing is the emergence of XML as a genuine standards contender.
What will happen to market data in 2001? For example - Will prices drop?
We will see further concentration of vendors in the professional markets. The big players will swallow up small or specialist vendors with unique content as they complete their product offerings. New entrants will further undermine the value of real-time price information; to compensate, the major data vendors will move further into providing higher added value data to maintain overall price and prevent a significant erosion of margins. The publishing of market data outside of the professional market will become more important to both the vendors and sell side institutions - more and more data services will be "soft dollared" as was common practice in the 1980s.
Will competition increase between vendors, or will vendors consolidate?
Both. Power will be further concentrated as suggested above. However, the need for further growth will drive all the players to focus more aggressively on their rivals' core business areas. The Equity sector will be highly competitive with all of the major players fighting it out. Reuters will have to strengthen their offering in Fixed Income, whilst they expect increased competition in foreign exchange and money markets.
Where do you think market data vendors will be in five years?
They will either go bust or become global consumer brands. Their involvement in transaction processing will become more and more important to their survival.
What standards will be important in 2001? FpML? MDML? For what specific purpose?
That's a hard one. Each XML documentation type definition (DTD) has strengths and weaknesses; by its very nature these definitions cannot be proprietary and will threaten vendors for whom ownership of format has been advantageous. Further, they actually address different problems. The ones that win out will be the ones that achieve the required degree of user penetration to become de facto standards--and that might not be the best ones. Logiscope is placing bets on all of them!
What is the most important new product or initiative you will bring to market in 2001?
LiveXML. It's an XML-based architecture for moving both market data and transactions and is designed to be DTD independent. A number of major application service providers (ASP) based trading services are launching this year with LiveXML as the underlying transport and presentation mechanism.
When will this/these happen?
Our clients are the global transaction and data vendors. It is up to our clients to determine the timing of their new product launches.
What are the dynamic factors driving your business?
The move to web-based trading systems which requires next generation IP-based data delivery into browsers and legacy systems along with the resultant requirement for better middle and back office integration.
What industry development is of the most interest to you?
The rollout of the ASP based FX trading systems - both interbank and bank to corporate.
What industry development concerns you most?
Consolidation of ECNs. We have products that are integral to the whole e-trading sector and the fewer ECNs there are, the less we can sell. Another major concern is the potential skills shortage in both our London and New York operations. And Easyscreen's share price.
What will be the next major project for your company?
Hazelnut.
If you had the money, personally, what would you invest in?
I'd invest in a cigarette and booze machine on a desert island for all the washed-up dot coms.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Data Management
Hub to lay off 20% of staff, sources say
Hub’s CEO says this is simply a case of a startup trying to stay nimble and efficient; others say it points to deeper issues.
TS Imagine integrates LTX’s pre-trade analytics tool
Users of the fixed-income EMS will now have access to LTX’s Liquidity Cloud tool, which provides a pre-trade score for the likelihood of trading success.
After contentious Opra upgrades, vendors brace for a faster future
Upgrades to the datafeed widely used to gauge the current market price for options contracts went into effect in February after three separate delays, which market participants say were caused by persistent bandwidth issues at some important recipients.
The IMD Wrap: No more turf wars, or why CDOs should heed the Voice of the CTO
Max reviews how our recent Voice of the CTO series has implications for those beyond a firm’s technology function, and how communication and collaboration between tech, data, and leadership will deliver better results.
Dark horse: Deutsche Börse building dark pool
New functionality allowing exchange members to execute sweep trades comes hot on the heels of European rival Euronext launching its own dark pool.
Man Group’s proprietary data platform is a timesaver for quants
The investment firm’s head of data delves into its alt data strategy and use of AI tools to boost quant efficiency.
Waters Wrap: The tough climb for startups
Anthony speaks with two seasoned technologists to better understand why startups have such a tough time getting banks and asset managers to sign on the dotted line.
As crypto ETFs become reality, benchmark providers take center stage
The SEC’s approval of the first spot bitcoin ETFs will expose a growing number of traditional market participants to the maturing world of crypto data, a moment that some—such as CF Benchmarks, BlackRock’s benchmark provider—have been eagerly awaiting.
Most read
- Women in Technology & Data Awards 2024: All the winners and why they won
- Witad Awards 2024: Above and beyond award (vendor)—Susan Bennett, Tradeweb
- Fighting FAIRR: Inside the bill aiming to keep AI and algos honest