18 February 2018
Visit www.avoka.com

IEX to use Kx software for data platform

18 December 2014  |  3274 views  |  0 Source: Kx

Kx Systems, a leader in high-performance database and time-series analytics, today announced that IEX, a rapidly growing equity trading venue, has officially chosen kdb+ software for its data platform.

Kdb+ is a database system with a built-in time-series query language, called q. It provides unified access to streaming, real-time and historical data and is ideally suited for implementations like at IEX, where over a million queries per day are performed on quotes, trades and internal messages in real time.

A well-known buy-side owned trading venue, IEX put its kdb+ data platform into production when it launched in October 2013. Dedicated to institutionalizing fairness in the markets, IEX now makes up approximately 1% of total market share for U.S. equities. IEX’s implementation of kdb+ is designed to seamlessly scale if and when it secures approval as an SEC-approved national stock exchange.

“Kx software has been used by financial firms for over two decades for among other things, implementing and back-testing algorithmic trading strategies at top institutions,” said Janet Lustgarten, CEO Kx Systems. “We are pleased to be part of IEX’s applications and believe kdb+ will give them the best performance possible to help them achieve their goal of fairness in the markets.”

IEX has built a single system that sequences orders from broker subscribers as well as quotes and trades from all Reg-NMS protected venues, including the 11 national exchanges trading U.S. equities. IEX performs real-time analytics on this data and analyzes order flow for client servicing and business monitoring purposes.

“We do feel that the kdb+ database needs to get special mention when discussing our market operations surveillance,” said Robert Park, Co-Founder and Chief Technology Officer at IEX. “We were looking for a platform with the ability to read and write in real time, which kdb+ does well. We also liked its flexible query language because there is no ambiguity in sequencing. We can ask any question we like, the only limit is what we can think of to ask.”

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.nextgenbanking.co.ukVisit https://www.capgemini.comvisit www.ebaday.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10717 views comments | 16 tweets | 11 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8400 views comments | 15 tweets | 41 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8093 views 10 comments | 21 tweets | 26 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
7831 views 3 | 9 tweets | 4 linkedin

Featured job

Find your next job