Open Source at Wall Street: Marketcetera enables hedge funds and trading firms to access ACTIV’s data feeds
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.
Making sense by Eccleston George Public Artists
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.
Bob Brill patent IP lawyer with business sense » Blog Archive » Open Source: IT, IP & Business 5:07 pm on August 16, 2008 Permalink
[…] Source Marketcetera’s increasing adoption by Wall Street’s automated trading […]
Activ Feed Coverage « Marketcetera Platform Blog 12:53 am on August 22, 2008 Permalink
[…] Posted by Toli Kuznets on August 21, 2008 Just wanted to follow-up last week’s post and thank everyone for getting the word out about our partnership with ACTIV. Tom Groenfeldt at Technology & Finance and the finance folks at Low-Latency and The Trade News broke the news. Leslie Kramer at FinanceTech and the staff at Automated Trader covered our partnership with the leading low-latency provider on the day of the announcement, with Finextra and Bobsguide picking up the release. The open source world also took note, with a mention in Ostatic and thoughtful write-ups from Dana Blankenhorn in ZDNet and Italian OSS guru Roberto Galoppini in Commercial Open Source Software. […]
The role of Open Source and Free software in today’s world, excellences, issues and frontiers to cross: an expert talk with Roberto Galoppini « 4:46 pm on February 24, 2011 Permalink
[…] developing solutions specifically addressing the needs of some industries are not rare – e.g. Marketcetera in the financial services industry – in Italy this is much more difficult to see and the few […]