The London Metal Exchange (LME) has gone live with a market data dissemination (MDD) system built using technology developed by UK software firm Sinara Consultants.
Sinara says the MDD system - which is based on its QuoteStream real-time data distribution and management technology - will provide LME with a stable and flexible platform for distributing pre and post trade metals, plastics and index prices to third party vendors such as Reuters and Bloomberg.
The MDD system captures data from all the exchange's trading systems, including the Ring and the LME Select electronic dealing platform.
Sinara says the application supports a configurable data subscription model, streaming client-specific data sets in real-time. It uses TCP/IP to provide high availability and faster data transfer speeds.
Phil Bain, project director, Sinara, says: "MDD uses QuoteStream's advanced data permissioning model, which will allow LME to include new products in the coming years. Our development team also extended the system to integrate with a number of price sources and to handle the complex set of contracts traded at the LME."
"The new platform is extremely flexible, so we can now provide different data offerings, including delayed data, and reduce the time-to-market for new products/contracts such as Steel in 2008," adds Craig Hewett, head of LME data.
Sinara says it developed the MDD system "in conjunction with associated suppliers".