Marketcetera, an open source firm developing a platform for automated trading, after having secured $4 million in its first round of funding, has now partnered ACTIV Financial, a provider of low-latency market data.
The availability of ACTIV’s real-time equity data on the Marketcetera platform represents increasing momentum in open source adoption by Wall Street’s automated trading institutions.
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Graham Miller and Toli Kuznets, the two founders of Marketcetera, told me a lot about their interesting business experience few months ago, and I asked Graham to share some background about this joint solution.
The addition of Activ’s real-time equity data to Marketcetera’s open source platform provides a new array of capabilities and features for tactical trading systems, while preserving all the flexibility and breadth of ACTIV’s data feeds. Unlike a proprietary trading application, the Marketcetera platform provides a wealth of uses for the market data out-of-the-box, in addition to a platform for building custom pricing logic and visualizations. This means that trading strategies can be brought to market much more quickly and with less development time than with other solutions.
It will be interesting to see if being open will help Marketcetera to further expand its customer base, allowing proprietary and secret trading algorithms is proving to be key to their success.
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