Gissing launches market data integration platform for hedge funds

Source: Gissing Software

Gissing Software, solution specialists in the routing and transformation of real-time market and trade data, today announced the launch of a new cost-effective market data integration platform for Hedge Funds, the Gissing Hedge Fund Market Data System.

The flexible and robust solution enables hedge funds to create competitive advantage by integrating advanced algorithmic trading techniques and strategies with trades on existing trading systems and market data from the trader's desktop terminal. Following the successful implementation of the system at the alternative investment platform launched by Malbec Partners in November 2007, Gissing has now made the final packaged solution available to the wider market.

This follows demand from the hedge fund industry for cost-effective, scalable, low-latency market data infrastructures that can integrate with the Bloomberg Trading System, commonly used by buy-side firms today. The platform enables smaller firms to begin to integrate algorithmic techniques, more often associated with larger firms, to create a competitive edge and help enterprises grow more quickly. It is easily upgradeable and provides an ideal stepping stone in the migration from existing core infrastructures as organisations grow to adopt, for example, the Reuters Market Data System (RMDS).

Mary Knox, research director, Gartner stated: "The adoption of low latency algorithmic trading strategies has moved beyond just large sell-side firms. Critical for the support of these strategies is cost-effective infrastructure that enables real-time analysis of market data and integration with trading systems."

Gissing will be demonstrating the new solution at the SIFMA Technology Management Conference and Exhibit which takes place in New York from 10-12 June 2008.

Other key benefits of the Gissing Hedge Fund Market Data System include:

  • Competitive advantage - enables hedge funds to trade using their own algorithmic or programmatic trading model.
  • High performance, low cost - enables users to use Bloomberg Terminals for trades and price information and continue to maintain positions and security on the Bloomberg Trading System.
  • Trading integration - ExceEeExcel add-in allows the spreadsheet to subscribe to both Bloomberg price data and the hedge fund's own security and position data in real-time, to build data into the trading model.
  • Reliability - fully fault tolerant operation based on the proven Gissing ConteX MCS architecture.

Mike Vieyra, CEO, Gissing Software, stated: "We have had a lot of interest from buy-side firms who have been demanding an intermediary platform from which to build their operations and grow their business. The Gissing Hedge Fund Market Data System will enable hedge funds to use this core infrastructure alongside existing systems to help perfect trading strategies. We anticipate this integrated approach will also help enhance the performance of funds' algorithms over time. The flexibility and vendor agnostic nature of Gissing's technology is key as it will allow businesses to implement larger market data platforms without restrictions, and do so at a rate which best matches their growth."

The system integrates Gissing's next generation multi-contribution system Gissing ConteX MCS, with its high performance Microsoft Excel add-in, Gissing RealtimeXL. To complete the solution, Gissing ConteX MCS provides integration to the Bloomberg Trading System, feeding real-time positions data directly into the Trader's Bloomberg Terminal. Here, it can then be combined with market data and processed using either Microsoft Excel or the hedge fund's own custom application. This closes the market data loop, enabling accurate position management at all times.

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