Startup options exchange to utilize OneTick for its efficient data storage and reporting
New York - October 18, 2011 - OneMarketData, LLC, the leader in tick data management and analytics, today announced that Miami International Securities Exchange, LLC (MIAX), a start-up planning to open a US options exchange in 2012, selected OneMarketData's OneTick™ Database and CEP as its fully integrated tick data management system to implement and store all of its market data.
MIAX will use OneTick for pre-and post-trade analysis and data storage as well as usage reporting, execution quality, customer support, compliance and real-time surveillance. OneTick's proprietary compression techniques, which combine high data compression with efficient data retrieval, will enable the MIAX to increase its overall efficiencies while leaving a smaller footprint, an important metric in the data intensive options space.
Doug Schafer, CIO at MIAX, said, "The implementation of OneTick will allow the exchange to have all tick data collection functions available within one system, eliminating additional costs associated with integrating multiple solutions. OneTick's data compression technology will enable our system to run on less hardware, increasing efficiency and significantly reducing our cost of ownership, which is all the more important to a start up exchange."
"With options volume almost five times higher than equities, MIAX recognized the need for a data storage and reporting solution that can collect and compress large amounts of information in a single, efficient solution," said Richard Chmiel, Vice President Global Sales and Marketing at OneMarketData. "OneMarketData looks forward to working with MIAX as they prepare to launch a formidable new competitor in the options exchange market."
Built from inception as a single integrated system, OneTick Database and CEP empowers users to write a single set of code for historical analysis and real-time signal generation; run queries that span historical and real-time data and apply OneTick analytics to these data processes. With OneTick, users greatly reduce costs associated with licensing, installing and maintaining separate data management and CEP systems by leveraging a single solution that costs the same as most independent systems while also being able to collect and analyze both historical and real-time data.
OneMarketData is a leading provider of enterprise tick data solutions for financial institutions worldwide. OneTick™, its flagship product, is a comprehensive business solution designed to fully address the market's need for intraday data collection, archiving, retrieval, and analytics across a wide spectrum of users from various departments. The OneTick Platform includes high-performance OneTick Archive and In-Memory Databases, OneTick Event Processing Engine, OneTick Analytics, and a wide array of Adapters to standard sources of historical and real-time tick data. Conceived to specifically address the requirements of the financial sector, OneTick's architecture and extensive built-in domain expertise offers low integration and operation costs, and fast deployment. More information about OneMarketData is available at www.onetick.com.
Miami International Securities Exchange, LLC (MIAX) is a wholly-owned subsidiary of Miami International Holdings, Inc. (MIH). The initial focus of MIH is to leverage management's expertise and relationships in the equity options space to launch the MIAX Options Exchange, a fully-electronic options exchange, in the second quarter of 2012, subject to SEC approval. The executive offices and technology development center for MIAX are located in Princeton, New Jersey. The national operations center for the MIAX Options Exchange will be located at the Princeton facility. Additional executive offices, as well as a multi-purpose training, meeting and conference center will be located in a state-of-the-art facility in Miami, Florida. Further information about MIAX is available at www.miaxoptions.com.
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