Buy-Side Technology Awards: Best Buy-Side CEP Product—OneMarketData’s OneTick

Simplicity. This is the differentiator for OneMarketData’s OneTick CEP and Database solution. While complex event processing (CEP) is—by definition—complex, OneTick’s CEP capabilities were brought to the market in April 2010 with the idea of simplifying the art of complex-event processing.

This starts at the programming level, says Richard Chmiel, vice president at OneMarketData. For example, OneTick has an order-book builder that is a single operation within the engine. So if you want to look at US equity trades in five lit venues and you want to see the aggregated book across all those venues—every order—there is no additional programming that needs to be done because OneTick creates the order book for you. OneTick CEP and Database supports Windows, Linux, Solaris X86 and the major programming languages including MATLAB, R, S-Plus, SAS, SQL, and C++.

The vendor has also been active in adding adaptors to an ever-increasing number of real-time data consolidators and has connected to QuantHouse, Bloomberg BPipe and FlexTrade within the last year. It was already connected to NYSE Technologies/Wombat, Activ Financial, Interactive Data, Reuters RDF and SpryWare. According to Chmiel, even though it has yet to market the solution, the most current version of OneTick supports cloud deployment. Chmiel also credits the tight coupling of the CEP engine with the OneTick database as a differentiator in this competitive market.

“It is incomprehensible that you would do real-time analysis without historical analysis and back-testing—they’re tightly coupled,” he says. “One of the great value propositions that we bring is that the same code you run in real-time you can run in historical, and vice-versa, because it’s the same programming methodology. That’s a very important distinction and another reason why we think that we were selected.”

OneMarketData has seen an impressive sales growth since last year’s OneTick CEP launch, and has recently added Tutor Investment Corp., Galiam Capital and Société Générale, among others.

Chmiel says that as more asset classes are being analyzed quantitatively and traded algorithmically, CEP has taken on greater importance. And as high-frequency trading continues to gain ground all around the globe, a robust CEP engine has become vital to quickly assess rapidly changing market conditions. “You have to be reactive to everything that’s going on, and a human point-and-click isn’t fast enough anymore,” Chmiel says. —AM