Alphacet Taps OneMarketData
April 28, 2008
Stamford, Conn.-based Alphacet will integrate OneMarketData's OneTick tick capture and analysis tool into its flagship Discovery product for high-speed quantitative strategy development and deployment. The partnership, announced April 15, is the first for Alphacet, which was founded last year and recently completed an initial round of funding by private investors including Boston-based Saturn Venture Capital. Alphacet plans to launch Discovery, which has been in the works for more than four years, in the second quarter.
OneTick, which captures, stores and processes high-frequency data, provides financial institutions with access to global real-time and historical data. By centralizing tick data management and analytics, OneTick lets users leverage the information for rapid modeling of quantitative and statistical strategies.
Alphacet CEO Peter Sibirzeff said the agreement appealed to his company because New York-based OneMarketData provides interfaces with some of the largest data vendors such as Reuters, Interactive Data Corp. and Wombat Financial Software, which added OneMarketData tools to its algorithmic trading system in September and was acquired by NYSE Euronext last month. "Our customers will be able to collect data from equities, fixed-income, foreign exchange and commodities markets," said Siberzeff. "There are enormous amounts of market data coming in on a daily basis, and [OneMarketData] has the system to capture this in a very efficient way, and that takes the load off Alphacet."
Sibirzeff continued, "OneTick's universal solution for tick data significantly enhances Alphacet Discovery, which enables quantitative managers to improve their performance by developing and implementing better strategies faster, more easily and with zero coding."
Calling the partnership an "excellent match," OneMarketData chief executive Leonid Frants said that both companies' solutions are "based on a deep understanding of the needs of the marketplace and both represent substantial leaps beyond existing conventional solutions."
