Direct Edge said it is preparing to deliver a database of trade and quote history that is available anywhere, online.
The EdgeBook Cloud service will use Xignite technology and will allow compliance officers, electronic traders, analysts and academics to retrieve replays of a given market day and its order book. Users also will be able to select specific segments of historical data to use for back-testing and analysis.
This “enables us to provide an innovative, valued-added product with a rapid time-to-market," said Kevin Carrai, Head of Member and Connectivity Services at Direct Edge. "
Accessing the data online will be fully-automated and “self-serviceable.”
CME Group and Nasdaq OMX Group also use Xignite’s cloud technology for delivering data.
Last November, Nasdaq OMX Group launched a similar market data service in the “cloud” to provide individual investors, small algorithmic traders and large institutional investors with access to basic trade and order data.
The Nasdaq Data-on-Demand service provides Level 1 tick data history online so such users, eliminating the "the need to maintain ever-growing in-house databases and data management infrastructure."