By Shobha Prabhu-Naik.
Appsbroker has launched Appsbroker Cloud Data, a cloud data platform that delivers market and reference data.
The platform aims to offer lower costs and greater flexibility in accessing market data, and remove the dependencies on legacy market data infrastructure and proprietary distribution technology. Moreover, it aims to help firms prove compliance with the second Markets in Financial Instruments Directive (MiFID II) requirements, the revised European Union law that provides harmonised regulation for investment services across the 31 member states of the European Economic Area.
The first data set launched on the Cloud Data platform is an Approved Publication Arrangements (APA) Aggregator, which connects to a number of APA firms who publish trade reports for post-trade transparency on behalf of market participants. It is designed to help firms achieve better market insights, according to Appsbroker.
Meanwhile, the standardised and flexible mechanisms enable the APA Aggregator to bring data to trading floors and to risk and compliance teams in real-time data, delayed data, and historical database that can be queried.
Alex Wolcough, director at Appsbroker Fintech, stated, “In a post-MiFID II world, accuracy and reliability of data is core to regulatory reporting and compliance and provides increased levels of transparency in financial markets. We recognise the challenges that exist around data standardisation and understand the industry frustration with the quality of APA data in the market.”