TickSmith will power the new market data platform for institutional electronic marketplace for Canadian debt and derivatives trading, CanDeal. The company will leverage the TickSmith Data Pooling Platform in order to support the launch of its DataVault Innovations data-as-a-service (DaaS) offering.
DataVault Innovations aggregates over-the-counter (OTC) data on multiple Canadian assets classes from banks and other sources and distributes it to end users and third-party providers. The DaaS technology also provides pricing, risk, and analytics features to help market participants bolster internal risk modeling and remain compliant with relevant regulations.
“TickSmith provides the well-tuned engine that DataVault Innovations needs for peak performance,” Head of DataVault Innovations Andre Craig said. “As an industry service, DataVault Innovations will not only provide the premium data to fuel more impactful product development; it will lead to more reliable benchmarks, expanded access to quality OTC data, and vastly improved risk management and regulatory compliance for FRTB and other mandates.”
Francis Wenzel, TickSmith CEO, complimented CanDeal’s consolidation of OTC multi-asset class data, and underscored TickSmith’s experience in capital markets. “We’re confident that we can deliver and unmatched service to DataVault Innovations, that will be robust enough to support an array of data, services, and clients for years to come.”
TickSmith demonstrated its TickVault and FIXVault financial big data platforms at FinovateFall 2014. More recently, the Montreal, Quebec, Canada-based company introduced its transaction cost analysis (TCA) solution, and announced a partnership with trading and market access technology provider Vela. TickSmith began the year with news that it had achieved Amazon Web Services (AWS) Financial Services Competency status.