Exegy Announces Comprehensive Enterprise Migration Package

Exegy Inc. has announced a comprehensive package of products and services to migrate users to its high-performance market data solutions for the enterprise. The package includes access to Exegy’s growing library of over 200 direct and vendor consolidated feed handlers, redundant appliances with automated failover, legacy interfaces to TREP (formerly RMDS) and OpenMAMA, entitlement management interfaces, packet capture and storage service, and development and QA tools for geographically distributed technical teams. Exegy’s campaign to grow its enterprise market data business comes as firms wrestle with significant risk and uncertainty with incumbent vendors and relentless pressure from new functional, regulatory, and performance requirements. “The compelling total cost of ownership reductions, low migration risk, reliable performance, and distinguished managed service of Exegy solutions have earned the trust of a diverse community of market participants,” says chief executive officer James O’Donnell. Today Exegy systems service the needs of agency businesses, foreign exchange liquidity providers, exchanges, market makers, proprietary traders, risk and compliance analysts, and buy-side analysts and asset managers. “We have proven that our solutions deliver unique capabilities and value at the most demanding firms on the street,” adds O’Donnell.

The foundation of Exegy’s enterprise migration package is its hardware-accelerated Market Data System (MDS). The MDS normalizes, caches, enriches, and distributes market data sourced from over 200 direct and vendor consolidated feeds. Asset class coverage includes equities, options, futures, indexes, and currency markets in North America, Europe, and Asia Pacific. With flexible data filtering, conflation, and distribution capabilities, the MDS scales to thousands of users that receive customized feeds and data views via Exegy’s easy-to-use API. Patented hardware-acceleration technology allows Exegy’s market data appliances to achieve impressive levels of efficiency, reducing datacenter space and power consumption by up to 20 times. “The bottom line for our customers is a compelling improvement in the performance and functionality of their infrastructure with a significant reduction in total cost of ownership,” says chief technology officer Scott Parsons. “Less equipment and less complexity lowers implementation and maintenance costs and yields a more efficient and reliable infrastructure,” adds Parsons.

In addition to providing a fully normalized data model, the Exegy Client API (XCAPI) is common across all of Exegy’s market data solutions, from its ultra-low latency Trading Application Platform (TAP) to its enterprise-scale Market Data System. XCAPI also provides automated failover between redundant instances of Exegy appliances that operate in parallel to provide system resiliency. As part of its enterprise migration package, Exegy provides the ability to automatically failover to consolidated feeds from vendors such as Bloomberg and Thomson Reuters. These feeds may be processed by the primary and secondary appliances, or by dedicated appliances that exclusively process a vendor consolidated feed and only require a single unit of rack unit space. Either way, applications may programmatically switch between direct, SIP, or vendor consolidated feed sources via the Exegy Client API.

While most of its customers elect to code directly to XCAPI, Exegy minimizes migration effort and risk by providing a publishing interface to Thomson Reuters Enterprise Platform (TREP, formerly RMDS) and a bridge interface to OpenMAMA. In addition to real-time data applications, Exegy provides seamless integration for entitlement management applications that play a crucial role in market data infrastructures. Exegy has the ability to integrate with the most common entitlement management systems, including Thomson Reuters Data Access Control System (DACS). These products allow applications written to legacy interfaces to continue operating undisturbed while leveraging the TCO benefits of Exegy’s market data solutions. 

Exegy rounds out its enterprise migration package with support for geographically distributed development and QA teams by including a global license for the Development Edition of its Trading Application Platform (TAP) product. TAP Development Edition enables development and testing of applications written to the Exegy Client API without requiring access to real-time market data feeds or Exegy appliances. It also enables automated testing of XCAPI applications with continuous integration environments which broaden test coverage of the full technology stack and reduce production deployment risk. Exegy also provides a packet capture and storage service that reduces total cost of ownership for journaling raw market data. The packet captures may be used to drive TAP Development Edition, feed replay engines, or historical tick databases for analytics and modeling.

To energize its enterprise migration campaign, Exegy is offering compelling commercial terms. “We have had great success replacing incumbent systems,” says vice president of sales Steve Hughes. “We believe the time is right to accelerate growth in this part of our business and we are willing to offer aggressive pricing to achieve our goals.”