The combination will provide support for historical data, backtesting, and live trading.
Pico, a solutions provider for low-latency trading, is partnering with BMLL, a provider of harmonized Level 3, 2, and 1 historical data and analytics, to provide access to real-time and historical data sets simultaneously, officials say.
The combination of products and services will provide “a full-suite solution of historical data, backtesting, and live trading environments” aimed at quantitative analysts, banks, and brokers, officials say. The combined effort is intended to help firms move from research stages to production.
The partnership will help clients “gain granularity and actionable insights,” officials say.
Pico offers low-latency infrastructure solutions such as market and broker connectivity, feed handler support, and an application programming interface (API) for market data and order execution.
Pico also offers global hosting facilities for direct exchange access and cloud connectivity, Redline’s ultra-low latency feed integration, and Corvil’s network monitoring.
“The joint offering is already used by a large European hedge fund expanding into U.S. equities. By leveraging the combined normalized raw historical and real-time data, it provided increased efficiency in market data functionality, performance, flexibility, and time to market,” according to the announcement.
“This solution directly addresses the growing demand for comprehensive front-office trading technology, streamlining the entire process with precision and efficiency,” says Jarrod Yuster, chairman, founder, and CEO of Pico, in a prepared statement.
BMLL’s historical data is “derived from raw underlying exchange data; this data is harmonized into a consistent, lossless global format with nanosecond timestamp granularity,” officials say. “Clients can leverage BMLL’s granular Level 3 historical data feed alongside Pico’s low-latency real-time solution.”
The partnership with Pico “addresses the very real pain points of many systematic traders who have dedicated far too many resources to migrating data between systems,” says Paul Humphrey, CEO of BMLL, in a statement.
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