The Finovate Debuts series introduces new Finovate alums. Today’s feature is TickSimth, which demonstrated TickVault and FixVault big data platforms at FinovateFall 2014.
TickSmith’s big data platforms, TickVault and FixVault help brokerage and trading companies make sense of their massive amounts of financial data.
The Montreal-based company works with Six Financial to gather data on every trade, quote, instrument, and exchange globally. A single day of trading includes a few billion trade messages; TickSmith holds 6 years of this data and turns it into useable information.
Stats
- Founded November 2012
- Over a petabyte* in financial data under management
The current process financial institutions have for managing their data is slow, costly, and takes a lot of time to set up. FixVault and TickVault provide a system for stock exchanges, brokerage firms, and regulators to manage their large amounts of data.
Use cases
1) Data on exchanges
Users select which exchange they would like access to, along with the date of trades. Chi-X Canada, an ETF exchange, uses TickSmith to provide customers access to historical tick and order book trading information dating back to 2009.
2) News access
Users filter and search the accumulation of 3 years of global news (1.2 billion headlines) and social media posts.
3) Compliance
TickSmith takes in hundreds of millions of trade messages daily. In the compliance section, users generate analytical reports from the data to find transactions from across the globe.
Benefits
TickSmith offers institutions easy access to all of their data, regardless of the amount. This eliminates the need for a manual process to extract specific data, which can take weeks or months.
It also provides the ability to extract meaning and value from the data, no matter how large or small. In seconds, it deciphers trends and computes reports for individual customers.
The services are available on the web interface or via an API, as either cloud-based or a managed offering for hedge funds, exchanges, brokerage firms, and other financial institutions.
To check out the live demo, watch the FinovateFall 2014 video.
*For a better understanding of how large a petabyte is, the Financial Times offers this video.
