Select Service Retail Banking European Banking & Payments Consumer Lending Bank

Select Service Retail Banking European Banking & Payments Consumer Lending Bank Cards

Product Type: Market Research Report
Published by: TowerGroup
Published: May 2006
Product Code: R301-1127

Description

Controlling latency is key in determining which firms can exploit shrinking margins and capture liquidity at the best execution price. The ability to process market data at the right time will determine who wins the race. Human interaction is now too slow, and electronic trading fueled by millisecond quotes is sending the market data infrastructure to the forefront. Electronic trading is also driven by initiatives like the US Regulation National Market Service and the EU Markets in Financial Instruments Directive, which increase the sources and volume of information that is changing the infrastructure.

Table of Contents

TowerGroup Take-Aways
Report Coverage
Vision
Background
Business Drivers
Regulatory Drivers
Reg NMS
Market Data Rules and Plans: Exhibit 1 Impact of US Regulation National Market System's Market Data Rules and Plans (2006)
MiFID
Implications: Exhibit 2 Impact of EU Markets in Financial Instruments Directive on Market Data (2006)
Pretrade Quotes
Post-Trade Reporting
Best Execution
Low-Latency Platforms: Exhibit 3 Requirements of a Low-Latency Market Data Platform (2006)
Technical Implications
Latency: The Need for Speed
Capacity
Bandwidth: Connecting a Firehose to a Faucet: Exhibit 4 New York Stock Exchange Trade and Quote Volumes (2000-08)
Server Capacity
Load Balancing
Grid Computing
Hyperthreading
IT Spending on Market Data: Exhibit 5 US Spending on Market Data Content and Infrastructure (2005-08)
Summary

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