Global financial exchange platform Intercontinental Exchange (ICE) has joined forces with data analysis software developer and vendor KX to bring high-performance real-time analytics to more than 25 million financial instruments.
As per an agreement signed by the parties, Intercontinental Exchange will make use of KX’s platform to offer real-time analytics on data from its own Consolidated Feed and Consolidated History.
KX is the maker of a data timehouse called kdb+ and the KDB.AI vector database.
According to Intercontinental Exchange, financial firms face significant challenges in managing and extracting valuable insights from the ever-growing volume, speed, and complexity of market data. The alliance with KX directly tackles these challenges, enabling firms to efficiently process data and make impactful business decisions in a timely manner, said the financial exchange platform.
Through the integration of data from Intercontinental Exchange’s Consolidated Feed into KX’s analytics platform, mutual clients gain the ability to perform real-time analytics and implement intricate models. This empowers them to extract valuable insights from their data, enabling real-time decision-making and propelling their business forward.
Consolidated Feed is said to consolidate cross-asset content from over 600 global sources, including exchanges and over-the-counter venues.
KX chief growth officer James Corcoran said: “Data is the lifeblood of the financial services sector.
“Through this collaboration, our customers gain access to an extensive range of high-quality data that can allow them to extract deeper insights, train more accurate models, and ultimately make better decisions.”
By leveraging algorithmic models on the consolidated data from Intercontinental Exchange, hedge funds can enhance their trading strategies in real-time by utilising predictive insights.
Likewise, asset managers can train models on market data to forecast financial trends and adjust their portfolios accordingly. This amalgamation of data and technology facilitates more effective risk management and decision-making processes, said the financial exchange platform.
Intercontinental Exchange desktops and feeds head Maurisa Baumann said: “The ICE Consolidated Feed provides one of the broadest global data offerings currently available.
“By leveraging KX’s real-time analytics and ability to overlay complex models based on our data, we’re able to offer an enhanced solution for our customers that can match their needs as they manage risk and execute trading strategies.”
The Consolidated Feed, utilised by various banks, asset managers, hedge funds, and ISVs, offers a selection of financial information encompassing equities, derivatives, fixed income, foreign exchange, money markets, commodities, energy, and ETFs. The data from these markets can be obtained in multiple formats, such as real-time or delayed, tick-by-tick, or conflated, catering to diverse needs.