Achieving Vendor-agnostic Market Data APIs


Utilising an Open Source Abstraction Layer

This report examines the market data end-user API abstraction layer that financial institutions can utilise to overcome proprietary market data vendor technologies. By transforming the market data architecture, institutions can increase the cost efficiency and the technological and business flexibility of systems to help tackle the rising costs of market data.

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The installation of an end-user level abstraction layer within market data systems can enable:

  • financial institutions to overcome the phenomenon known as vendor lock-in, which hampers decision-making and is enabling market data vendors to exercise excessive supplier power over end-users;
  • market data systems to become more scalable and more agile as IT teams can develop end-user applications based on a common standard rather than conforming to different proprietary technologies;
  • financial institutions to lower the total cost of ownership of their market data systems through leveraging the benefits of the open source approach and sharing development resources and increased scrutiny of the source code; and
  • market data end-users to reduce the budgetary burden of developing non-competitive software and refocus budgets on development work that can provide competitive advantage.

Published on: 16 Dec, 2016

Achieving Vendor-agnostic Market Data APIs – Table of Contents

  • 1.0 Replumbing the Market Data System
    • 1.1 Entrenched Architecture vs. Vendor-agnostic Architecture
    • 1.2 Market Data-specific Features
    • 1.3 Open Source
    • 1.4 Alternative Initiatives to Tackle Market Data Costs
  • 2.0 The Benefits of an Open Source Abstraction Layer
    • 2.1 Reducing Vendor Lock-In
    • 2.2 Improving Scalability and Agility
    • 2.3 Lowering the Total Cost of Ownership
    • 2.4 Focusing on Competitive Advantage
  • 3.0 The Drawbacks of an Open Source Abstraction Layer
    • 3.1 Support Concerns
    • 3.2 Overcoming Inertia
    • 3.3 Performance Issues
  • 4.0 Financial Services Uptake
    • 4.1 Current Out-the-Box Connectivity
    • 4.2 Institution Suitability
    • 4.3 Function Suitability
  • 5.0 The Future
    • 5.1 Vendor Agnosticism
  • 6.0 Appendices
    • 6.1 Glossary of Terms
    • 6.2 Table of Figures