The company said that it is bringing free market data a step closer by enabling Chi-X data to be distributed via its CityVision StarNet applications, used by financial institutions for publishing market data on large networks and the internet.
The Chi-X Handler will become part of Arcontech’s EuroVision suite – announced earlier this year – which helps institutions with their new MiFID obligations regarding pre- and post-trade reporting and best execution.
Chi-X offers its market data at no cost to qualifying organizations and Arcontech’s CityVision makes this data easily available and in a vendor-independent way.
Andrew Miller, managing director of Arcontech, said, We are finding that more firms want to take data direct from the source, for reasons such as quality and speed. If more data sources follow the Chi-X example of providing free market data, then the cost of traditional vendors will become an issue. Our software will give firms direct and cost-effective access to the emerging venues and price sources.
Hirander Misra, director of Instinet Chi-X Limited, added, Chi-X seeks to provide investors with a faster, cheaper and smarter alternative for trading European equities. We welcome Arcontech’s Chi-X handler, which will help our clients access Chi-X market data whilst also meeting MiFID requirements.
