Orc, the global market leader in electronic trading technology for listed derivatives, today announced a partnership with OneMarketData, LLC, to make OneMarketData’s flagship OneTick product an integral component of Orc’s Trading Bricks and Execution Bricks platforms.
OneTick’s enterprise data management platform will be offered as part of Orc’s hosted solutions offering, specifically to address present and future client needs for analytics and regulatory compliance. OneTick delivers clean, consistent, normalized real-time and historical global market data and analytics.
Orc is currently adapting its technology platforms, as well as updating its solutions offering, to meet client needs arising from new European financial market regulations, including MiFID II/MiFIR, which will become effective on January 3, 2017.
“The new European regulatory requirements translate to a need to collect, standardize, analyze and present massive amounts of data,” said Christer Wennerberg, Head of Market Structure, Orc Group. “The challenge lies not only in saving data to comply with market surveillance and audit obligations, but to make it useful and available for clients. This is where Orc can add great value together with OneTick - the obvious first choice for complementing our trading and execution platforms with data management and analytics functionality.”
MiFID II will introduce new compliance oriented regulation, such as investor protection (“Best execution”), surveillance and audit obligations, while also acting as a catalyst for innovation. The combined direct effects of new regulation and innovation is expected to result in substantial changes to the current market structure, with obvious implications for trading technology as well.
“We are very pleased to work with Orc to address the requirements for MiFID II compliance, and to support Orc as they build a highly competitive trading solutions offering for the transforming European regulatory landscape,” said Leonid Frants, founder and principal of OneMarketData. “We are confident that the analytics and insight our service provides make OneTick an ideal foundation on which to build surveillance solutions.”