London, June 11, 2015. Tick42, the London based fintech software company has developed an OpenMama bridge for the Thomson Reuters market data platform TREP which is released today to the open source community.
The new bridge, the first of its kind, was developed in collaboration with Tier 1 investment banks, as part of their strategies to allow them to migrate more easily between alternative market data technology and content vendors.
The bridge allows applications written to the OpenMama API to subscribe, publish and contribute level 1 and level 2 market data via TREP, the Thomson Reuters platform. It also enables direct connection to Elektron Edge devices.
Two Tier 1 “early adopter” Investment Banks are already in production with the bridge indicating the momentum and potential that OpenMama has amongst major market data users. The clients are moving away from in-house APIs to OpenMama to take advantage of the high performance and the pool of experienced developers.
Leslie Spiro, Tick42 CEO said: “ The development and adoption of this high performance, fully functional bridge, further demonstrates the validity of Tick42’s commitment to OpenMama as the core of our market data products. We’ve worked with Reuters market data systems since the beginning, so it is fitting that we take TREP market data access on its first step into Open Source. ”
The TREP Bridge uses the UPA library which matches closely the requirements for an OpenMAMA bridge. Notably, the Bridge also provides OpenMama developers with easy access to key features of TREP including source discovery, Posts (Sink Inserts) and seamless integration with TREP OMM data such as market depth.
High performance ‘on the fly’ field mapping allows the bridge to make a TREP source ‘look like’ Wombat, Reuters or even Bloomberg which further aids vendor independence.
Together with Tick42’s Bloomberg bridge and those from other vendors, OpenMama users can now access many market data platforms and feeds including Thomson Reuters, Bloomberg, Wombat and Solace.
The TREP bridge supports multiple instances within the same application, as well as coexisting with other bridges enabling, for example, multi-source aggregation and republishing.
Jamie Hill, VP of Product Management at SR Labs and the OpenMAMA Steering Committee Co-ordinator said “ The release of this bridge is a prime example of the way that OpenMama enables our users to bridge the gap between otherwise incompatible technologies, including those in direct competition. By enabling a wider choice of vendors, including SR Labs, contributions like this help to move the OpenMAMA project forward in a way that benefits the broader community and helps to reduce dependence on a particular technology and lower the risk of vendor lock-in.”
The source code is available on Tick42’s GitHub site and binary versions can be downloaded from Tick42’s website www.tick42.com. Note that whilst Tick42’s code is open source, appropriate licenses are required for TREP connection.
sr labs, thomson reuters, wombat, reuters, tier, github, solace, bloomberg, tick42, incompatible technologies, fintech software, particular technology, market data technology, market data systems, market data products, trep bridge, bloomberg bridge, upa library, jamie hill, leslie spiro, andrew miller, london, otherwise incompatible technologies, alternative market data technology, 44 7702 547654, financial data vendors, finance, financial economics, reuters market data system, financial markets, investment, market data, www.tick42.com, vp of product management, wombat enterprises pty ltd, bloomberg l.p., ceo, tier company limited, thomson reuters group limited, solace pharmaceuticals inc.
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