MarketPrizm is a technology suite designed to address the unique challenges facing algorithmic trading in post-MiFID Europe:

• Liquidity fragmentation - Where once there were limited options for trading a particular instrument, post MiFID algorithms are forced to search across multiple venues for the best execution opportunities. The task of aggregating data across venues, instruments and currencies to present a consolidated view of the market, whilst taking into account time and cost of execution, requires a new level of sophistication.
  
• Latency and the race to execute - Today, successful traders have the ability to acquire and process data, make trading decisions and execute them quickly. Latency is a factor in all stages of the trading process, so it is critical to minimize it wherever possible in order to achieve fastest execution.

MarketPrizm is comprised of two ultra-low latency components that address these challenges:

• DataPrizm is a data management platform which provides a suite of customizable data handlers and value-added processes which acquire inbound data feeds, normalize them into a common format, and enhance them through parallel custom processing. DataPrizm can process and deliver data in sub-millisecond times.
  
• PrizmBook is a tool which maintains a single order book across venues, instruments and currencies by aggregating trading data received from DataPrizm. PrizmBook is fully configurable in terms of the venues and instruments it tracks. It also takes into account information that may affect the decision to trade on one venue or another, including expected speed of execution, cost of execution and margin cost of capital.

All aspects of data management in the algo trading cycle are addressed by the MarketPrizm platform, freeing the algo trader to concentrate on developing the strategies to optimize execution opportunities. Click the image below to see how MarketPrizm fits into the algo trading cycle.