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1-6 months
Building an application with market data feed requires project time for provisioning the feed, deploying data management infrastructure and coding data integration, storage and access.
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< 1 day
On-demand market data is immediately available over the Internet via Web services that require a few lines of code to integrate. Data is pulled directly into the application.
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Subscription
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Feed and/or End Users
A market data feed is generally sold in bulk based for a fixed feed price and additional end user fees, requiring the customer to buy additional data that is not used by every application or end user.
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Web Service Requests
On-demand market data is sold on a transaction basis that scales with the actual amount of data consumed; therefore there is no minimum data set or volume requirement to achieve a strong ROI.
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Communications
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Leased Line
A market data feed is delivered via a leased line and requires additional network costs.
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Internet
On-demand market data is delivered over the Web and only requires a standard Internet connection.
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Software
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Data Management
A market data feed requires additional software to parse, clean and access the data that must be provided by the vendor or coded by the customer.
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None
On-demand market data is accessed using pre-built Web service operations that are automatically imported into developer tools for immediate use.
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Hardware
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Data Storage
A market data feed requires on-premise hardware to receive, store, process and provide access to data for end use in applications.
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None
On-demand market data is passed in real-time directly to the application in response to Web service requests. No local storage or hardware is required.
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Software Configuration and Coding
When using a market data feed, flexibility is determined by the vendor’s add-on software applications. Data access that is not configurable must be coded by the customer.
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Web Service Operations and Mashups
On-demand market data is delivered using Web services with many pre-built operations. In addition, new operations can be easily created using the Splice mash-up platform.
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In-house Infrastructure Scalability
When using a market data feed volume requirements must be handled by the customer’s on-premise IT infrastructure and impact the requisite up-front investment and lead time for deployment.
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Cloud Computing Scalability
On-demand market data is available for any volume level. Xignite handles billions of service requests per month and employs Amazon elastic cloud computing (EC2) for very high volume applications.
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< 1 msec Feed/In-House Dependent
Overall latency when using a market data feed is determined by the network and the customer’s IT infrastructure. Very low latency applications require colocation access and very high speed processing.
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< 100 msec Cloud/Internet Dependent
Latency of on-demand market data is determined by the cloud service providers system and the request-response time of the Internet. Latency of a typical Xignite Web service is several hundred milliseconds, but can vary based on the customer’s Internet access.
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> 99% Feed/In-house Dependent
When using a market data feed, availability is a combination of the vendor’s feed and the customer’s software and hardware infrastructure. In-house infrastructure must be built to handle peak volume levels.
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> 99% Cloud/Internet Dependent
On-demand market data availability is guaranteed by the vendor’s service level agreement (SLA) and is based on enterprise-class infrastructure that must be capable of handling the volume of all customers.
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