"By coupling our embedded ticker plant and consolidated feed products, we have the ability to provide the best of both worlds," says chief technology officer David Taylor.  Launched by Exegy in January of 2014, TAP is an embedded ticker plant product that normalizes direct market data feeds on the same server that hosts a trading application.  TAP delivers subscribed-to updates to applications written to the Exegy Client API (XCAPI) with single-digit microsecond latencies.  The Exegy Data Feed delivers normalized market data to globally deployed applications as a "data anywhere" service.  This normalized market data is derived from direct market data feeds for the US equities, options, and futures markets.  Exegy now provides a connection to the Exegy Data Feed for every deployed instance of TAP.  "The offering provides a compelling combination of speed, efficiency, flexibility, resiliency, and breadth of content," adds Taylor.

"An embedded ticker plant model is great for speed and deployment agility, but it can present challenges when designing for operational resiliency," says chief information officer Scott Parsons.  Typically, firms deploy an additional embedded ticker plant and application on a redundant server to act as a backup.  This significantly increases the cost and complexity of deploying and managing the trading infrastructure.  The latest version of the Exegy TAP allows applications to automatically failover to the Exegy Data Feed when there is a disruption from direct feeds.  This allows applications to achieve market data resiliency without deploying additional hardware and managing redundant application instances.  "Automated failover to the Exegy Data Feed makes TAP a cost-effective enterprise-class market data solution that is differentiated from other embedded ticker plant offerings in the marketplace," adds Parsons.

The combined offering also allows applications to efficid offering also allows applications to efficiently access broad market data content.  Embedded ticker plant products consume a subset of the computing resources on the host server to normalize data from direct market data feeds.  Often, this is an acceptable tradeoff for a small number of direct feeds that originate from the data center in which an application is deployed.  However, significant challenges arise when an application requires market data from additional feeds that originate in other data centers.  "The combination of TAP and Exegy Data Feed addresses these challenges far more elegantly and efficiently than the complexity and cost of backhauling additional direct feeds from remote data centers," says Taylor.  The Exegy Client API delivers all content, local from TAP and remote from the Exegy Data Feed, through a common interface with a consistent data model.  For remote content, applications receive only the updates they need, minimizing the network bandwidth required to deliver the data.  "We believe that the combination of TAP and Exegy Data Feed is a revolutionary new way to deliver normalized market data," adds Taylor.