Direct Feed Handling

Vela’s SMDS market data solution is a software-based feed handler that can be used in process or deployed as a stand-alone application. The solution is developed and built entirely in house with no third-party dependencies. SMDS features fast processing of market data events and can be configured to stream data to multiple applications in an enterprise setting. Cutting-edge design and engineering, supported by decades of experience, give SMDS users a truly competitive edge.

SMDS offers over 130 feed handlers for exchanges and other trading venues providing access to data from the worlds most important trading destinations.

Find Out More

  • Client Challenges
  • Solution Benefits
  • Technology Features
  • Feeds Supported
Client Challenges

Clients today are faced with a range of commercial and technological challenges when implementing market data feed handlers.

Latency

Receiving market data ahead of the competition is key to having a successful strategy for electronic trading — every microsecond counts.

Total Cost of Ownership

The activities required to build and maintain feed handlers are extremely expensive. When it comes to ‘build vs buy’, spending effort building feed handlers consumes resources that could otherwise be focused on innovation and strategy development.

Time to Market

Time to market is always a critical factor when your traders request access to new data sources, and writing feed handlers is always a complex moving target, even with the proper skill sets and experience. 

Support

Quality assurance and an ever vigilant support team are extremely important for avoiding outages. Support is a complex and never-ending challenge.

EDC Management

Exchanges frequently and without warning change their market data feed protocols, which can result in anything from a minor change to a complete rewrite of feed handler code.

Solution Benefits

Customers benefit from an industry-leading latency profile while simultaneously reducing their market data costs.

Low Latency

The SMDS in-process solution delivers normalized data with sub micro-second latencies per event and supports kernel bypass technology. The in-process solution can deliver messages with latencies between 5 to 8 microseconds per message from the time of ingress of the packet at the NIC.

Global Reach

SMDS offers access to over 130 feed handlers supporting all major asset classes including Equities, Equity Derivatives, Fixed Income, Fixed Income Derivatives, Foreign Exchange and Commodities. 

Total Cost of Ownership

Clients leveraging Vela's cost effective and highly commoditized SMDS solution see significant cost reductions, and free up internal resources to focus on the core business.

Time to Market

An SMDS feed handler has a rapid time to market utilizing agile, on-site software development, installation and integration.

The Vela Professional Services team can assist with the deployment of custom implementations where required.

Support

Vela prides itself on continually setting high standards for product and technical support; we operate a follow-the-sun support model with hubs in New York, Belfast, Manila and Pune, which ensures subject matter experts are always available.

Clients have the option to outsource maintenance and management of their feed handlers to the Vela Managed Services team.

EDC Management

Clients receive regular information about Exchange Drive Changes (EDCs). Vela's EDC Management team evaluates each change and software updates are released for any required changes.

Our track record on managing EDCs is head and shoulders above any other vendor in the marketplace today.

Distribution Modes

SMDS supports four distribution modes for market data:

  • Installed in-process it is integrated with one client application.

 

SMDS Can also be configured to stream data to multiple applications in one of 3 modes:

  • Shared memory can be used to serialize/deserialize the data.
  • Multicast or TCP can be used to connect client applicatons that reside on seperate machines.
  • SMDS can be configured to connect to MAMA installations.
Technology Features
  • Operates on Commodity Hardware on Linux and Windows
  • Provides a Unified API across all exchanges and distribution modes
  • Client side APIs are available in C++, C# and Java
  • Offers full support for kernel bypass technology such as Solarflare OpenOnload / EFVI
  • Provides a mechanism to capture live market data in pcap files with nanosecond precision
  • Can be used to complete regression testing
  • Supports Local and Wide Area Distribution
  • Market Data Composite Book (MDCB) component handles the challenges of maintaining consistent depth of book across multiple exchanges by price level and venue.
Feeds Supported

Below is a listing of the direct market data feeds supported. Vela is constantly adding to our market data coverage. Contact your sales or account manager for your specific exchange or data feed requirements.

Americas

  • Aequitas NEO Nitch
  • Bats Direct Edge A Multicast PITCH
  • Bats Direct Edge X Multicast PITCH
  • Bats Direct Edge X Options Multicast Pitch
  • Bats Equities Multicast Depth of Book (PITCH)
  • Bats Europe Multicast PITCH
  • Bats Hotspot FX ITCH
  • Bats ONE Market Data Feed
  • Bats Options Multicast Depth of Book (PITCH)
  • Bats Y Multicast PITCH
  • Bats Z Multicast PITCH
  • BM&F Bovespa UMDF 1.6 (PUMA)
  • BM&F Bovespa UMDF 2.0 (PUMA)
  • Bondmatch MTF Market Data
  • BOX HSVF UDP
  • BOX SOLA HSV
  • Canadian Securities Exchange Level 2 Market Data Feed
  • CBOE CFE VSM
  • CBOE CSM
  • CBOE CSMI Level 1
  • CBOE CSMI Level 2
  • CBOE Index Market Data Dissemination
  • CBOE Indices
  • CHX Book Feed
  • CME Globex FIX / FAST 3.0
  • CME MDP 3
  • CME MDP ITC feed
  • CME Streamlined FIX / FAST
  • CTA (CTS/CQS)
  • EOXLive
  • Eris Exchange Swap Book (Orders and Trades)
  • FINRA BBDS
  • FINRA BBDS / TDDS
  • FINRA TDDS
  • FINRA Trace Bonds
  • FTSE RussellTick
  • GETCO Market Data FIX
  • Hanweck Associates Volera Feed
  • ICE iMpact
  • ICE iMpact Multicast
  • ICE iMpact Multicast FOD
  • IEX Top of Book Quote Feed
  • ISE MDI FAST
  • ISE MDI Native
  • ISE T7 MDI Binary
  • MIAX Top of Market
  • Montreal SOLA HSVF UDP
  • Nasdaq Quotes - Best Bid and Offer (QBBO)
  • Nasdaq BX Best Bid and Offer
  • Nasdaq BX TotalView
  • Nasdaq BX TotalView ITCH
  • Nasdaq CXC (Chi-X) Multicast
  • Nasdaq eSpeed ITCH
  • Nasdaq ITCH
  • Nasdaq Last Sale
  • Nasdaq Last Sale Plus
  • Nasdaq Level 2 v2
  • Nasdaq Mutual Fund Dissemination Service (MFDS)
  • Nasdaq Net Order Imbalance Snapshot (NOIS)
  • Nasdaq NLS v2
  • Nasdaq NOIView
  • Nasdaq Options Market BONO
  • Nasdaq OTC Montage Data Feed
  • Nasdaq PHLX Orders
  • Nasdaq PHLX TOPO
  • Nasdaq PSX Best Bid and Offer
  • Nasdaq PSX Last Sale
  • Nasdaq PSX TotalView ITCH
  • Nasdaq TotalView
  • Nasdaq TotalView Aggregated
  • Nasdaq TotalView ITCH
  • Nasdaq UTP / SIP / Consolidated Tape C L1
  • Nasdaq Velocity and Forces
  • NSX Depth of Book Multicast
  • NYSE OpenBook Ultra
  • NYSE Alerts
  • NYSE AMEX OpensBook Aggregated
  • NYSE Arca
  • NYSE Arca BBO
  • NYSE Arca Bonds
  • NYSE Arca Bonds Trades
  • NYSE Arca Integrated
  • NYSE Arca Options
  • NYSE Arca Options XDP
  • NYSE Arca Real-Time Reference Prices
  • NYSE Arca Trades
  • NYSE ArcaBook
  • NYSE BBO
  • NYSE BBO XDP
  • NYSE Best Quote and Trade (BQT)
  • NYSE Global Index Feed
  • NYSE Global OTC BBO and Integrated Feed
  • NYSE Market OpenBook
  • NYSE MKT BBO
  • NYSE MKT BBO XDP
  • NYSE MKT LRP
  • NYSE MKT OpenBook Ultra
  • NYSE MKT Real Time Reference Prices
  • NYSE MKT Trades
  • NYSE OpenBook Aggregated
  • NYSE Order Imbalances
  • NYSE Program Trading Execution Reports
  • NYSE Real Time Reference Prices
  • NYSE Retail Execution Reports
  • NYSE Trades
  • NYSE Trades XDP
  • NYSE XDP
  • NYSE Integrated XDP
  • OMEGA ATS ITCH
  • OMEGA ATS Lynx
  • OPRA
  • OTC Markets / Pinksheets OTCQB, OTCQX, L1 / L2
  • TMX / TSX Venture QTRMD Level 1
  • TMX CBBO Multicast
  • TMX
  • TSX CBBO
  • TSX Consolidated Last Sale Market Data Feed
  • TSX Consolidated Market Data Feed
  • TSX Market Data Field Level 1
  • TSX Quantum
  • TSX Quantum Feed Level 1
  • TSX Quantum Feed Level 2
  • TSX Venture L1
  • TSX Venture L2
  • UTP (UQDF, UTDF)

 

EMEA

  • Aquis MTF
  • Athens Integrated ATS / OASIS
  • Bats Chi-X Europe Multicast PITCH
  • Bats Europe Multicast PITCH
  • BME Data Feed (MEFF)
  • BME Market Data Feed
  • Boerse Stuttgart KDV
  • Borsa Italiana Cash MOT ITCH
  • Borsa Italiana Millennium ITCH
  • Borsa Italiana Derivatives IDM HSV
  • Deutsche Börse CEF Core
  • Deutsche Börse CEF Ultra Plus Xetra
  • DGCX Market Data API Multicast (EMAPI)
  • EEX ComXerv Public Message Interface
  • Eurex EMDI
  • Eurex EOBI
  • Euronext Cash Markets UTP MD
  • Euronext Cash Markets XDP
  • Euronext Derivatives XDP
  • FX All Bankstream (Continuous streaming prices)
  • GMEX ForumMatch Low Latency Market Data API
  • GS SIGMA X MTF
  • Irish Stock Exchange Equity & ISEQ indices (CEF feed)
  • Johannesburg Stock Exchange
  • LME Select 7
  • London Stock Exchange ITCH
  • London Stock Exchange ITCH Level 2
  • LSE Group Ticker Plant (GTP)
  • LSE Turquoise Cash MITCH UDP
  • LSE Turquoise Derivatives MITCH UDP
  • LSE Turquoise MITCH UDP
  • Markit BOAT European OTC Data
  • Moscow Exchange
  • Moscow Exchange FORTS
  • Nasdaq Commodities Total View - ITCH
  • Nasdaq NLX Rates ITCH
  • Nasdaq Nordic Commodities Total View - ITCH
  • Nasdaq Nordic Derivatives OMNET API
  • Nasdaq Nordic Derivatives Total View - ITCH
  • Nasdaq Nordic Equity Total View ITCH - Copenhagen
  • Nasdaq Nordic Equity Total View ITCH - Helsinki
  • Nasdaq Nordic Equity Total View ITCH - Iceland
  • Nasdaq Nordic Equity Total View ITCH - Stockholm
  • Nasdaq Nordic Markets ITCH
  • Nasdaq Nordic Total View - ITCH
  • NFX-ITCH and GLIMPSE
  • Oslo Stock Exchange Millennium ITCH
  • Qatar Exchange Cash UTP
  • SIX Swiss Exchange SWX ITCH
  • SIX Swiss Exchange SWX MDI
  • Tel Aviv Stock Exchange Data Feed
  • Vienna Stock Exchange ADH
  • Warsaw Stock Exchange UTP
  • Xetra CEF
  • Xetra Enhanced Broadcast Solution

 

APAC

  • ASX 24 (SFE) NTP
  • ASX 24 (SFE) Trade
  • ASX Trade 24 (SFE) ITCH
  • ASX Trade ITCH
  • ASX Trade OMNet API
  • BSE A-CAST
  • BSE EMDI
  • CHI-X Australia Market Data feed
  • CHI-X Japan Market Data feed
  • CHI-X Japan Multicast
  • GreTai Market Data Feed
  • GreTai Orion Market Data Feed
  • HKEX Derivatives Full Tick
  • HKEX Derivatives Premium
  • HKEX Securities Full Tick
  • HKEX Securities Premium
  • KRX Exture (KOSDAQ, KOSPI, Derivatives market)
  • NSE CAT T Cash
  • NSE CAT T Derivatives
  • NSE Derivatives Market Data
  • NSE Market Data
  • NSE Non-Neat Front End (NNF)
  • OSE J-Gate
  • OSE Next J-Gate
  • SBI JapanNext ITCH
  • SBI JapanNext TCP
  • SGX Quest Cash API
  • SGX Quest Derivatives API
  • SGX Quest Derivatives Quotes
  • SGX REACH API
  • SGX Titan ITCH & Glimpse
  • TAIFEX Market Data UDP
  • TAIFEX Multicast
  • Taiwan Stock Exchange FIX/FAST
  • Taiwan Stock Exchange Multicast
  • Tokyo Commodities Exchange (TOCOM) Market Data Feed
  • Tokyo Financial Exchange (TFX) ITA Wave / Arrownet
  • Tokyo Financial Exchange (TFX) Market Data Feed
  • TSE Arrowhead 2 Flex Full
  • TSE Arrowhead 2 Flex Standard
  • TSE Arrowhead Flex Full
  • TSE Arrowhead Flex Standard

 

Broker, News, Fixed Income, and Forex Feeds

  • Autobahn FX
  • Barclays FX
  • Barclays ROE
  • Brokertec Market Data
  • Currenex FIX
  • Currenex ITCH
  • Deutsche Bank FX
  • Dow Jones Composite News
  • EBS BrokerTec Live
  • EBS BrokerTec Spot AI
  • FXCMPro
  • HotSpot FX ITCH
  • ICAP iconnect API
  • ICAP iFeed API
  • Morgan Stanley FX
  • Nasdaq eSpeed API
  • Nasdaq eSpeed Multicast
  • Nomura FX FIX
  • RTRS Price Dissemination Service
  • Thomson Reuters FXall
  • Thomson Reuters RDF News
  • Thomson Reuters RFA FX
  • TradeWeb Market Data
  • UBS FX2B Liquidity API

 

Consolidated Vendor Bridges and Gateways

  • B-PIPE
  • B-POD
  • Brokertec API
  • Comstock
  • Currenex ITCH
  • FIS GL API
  • Nasdaq ITCH
  • SIX Financial Information (MDF Stream)
  • Thomson Reuters MAPI
  • Thomson Reuters RDF
  • Thomson Reuters RFA
  • Thomson Reuters RFA 8
  • Thomson Reuters RFA2NYSE

What is it?

SMDS is a software based market data solution which normalizes market data from over 130 markets globally through a single API.

Who is it for?

All financial services firms who require accurate, normalized market data into their applications with industry-leading latency and low hardware footprint.

What does it provide?

Low latency, normalized market data through a unified API. SMDS can be setup to run in-process or in distribution mode. Both modes use the same unified API.

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