06.19.2014

Wall Street Firms Extend ‘Big Data’ Capabilities

06.19.2014
Terry Flanagan

Capital markets firms are extending their use of high-performance database technology to harness the power of ‘big data’.

“Our Wall Street customers have instances of kdb+, and its built-in time-series programming language, q, throughout their companies,” Abby Gruen, director of business development at Kx Systems, told Markets Media. “It is being used to aggregate and analyze data, perform statistical functions, and join data sets in more ways than are possible using SQL technology.”

Kx Systems is anticipating a new release of its kdb+ database later this year. Kdb+ is used widely in the financial services sector for applications such as automated trading monitoring, pre-trade analysis and algorithmic trading analytics engines.

In addition to capturing market data, firms are using kdb+ for order-book management, algorithmic trading, and risk assessment. “They are using kdb+/q for queries being performed on both streaming or historical data — the latter easily accommodating research and back-testing,” Gruen said.

DEVnet, a technology services and solutions consultancy in financial trading and risk management, has released an open source version of its proprietary suite of building blocks for kdb+, making it easier for firms to develop applications built on kdb+.

“DEVnet has extensive experience in financial services consulting,” Gruen said. “They complement Kx Systems and do sales, training and consulting in kdb+.”

DEVnet, a strategic partner of Palo Alto, Ca.-based Kx Systems, has been developing these software components over several years and has deployed them in trading environments across Europe, North America, Asia and Australia.

By helping companies build applications on kdb+, DevNET is making it easier for firms to leverage the strength of the kdb+ core technology to support their businesses, according to Robin Mess, director of sales at DEVnet.

Over the past 15 months, hardware vendors like Intel and IBM have deployed kdb+ for running the well-known STAC M-3 historical tick database benchmark at the Securities Technology Analysis Center, said Gruen.

DeltaFlow, a platform from First Derivatives that’s based on kdb+, is used by traders for high volume, low-latency algorithmic trading and by regulators for real-time detection of market abuse and unauthorized trading activity across multiple asset classes.

Other recent partners, in addition to DevNET, First Derivatives, and Bedarra Research Labs, include AquaQ Analytics and QuantumKDB.

“We released our smaller memory space version of kdb+ (32-bit) free for commercial use on April 1, 2014, and two of our partners released free tools at the same time,” said Gruen. “DevNET made its kdb+ Exxeleron framework with fast interfaces free, and AquaQ released its TorQ framework for free.”

Featured image via iStock

HSBC AI Markets harnesses natural language processing to meet market participants’ trading and hedging needs, from pre-trade analysis, to execution, to post-trade. Markets Media caught up with Tom Croft to learn more about the platform.

#AIMarkets

“Portfolio trading is a massive improvement in efficiency.”

What impact do you think portfolio trading will have on the future of bond market structure?

#PortfolioTrading #Trading

Asset owners are investing heavily in data, from AI to ESG to real-time tools.
What’s the top priority for the data suite? 👇

#AssetOwners #FinTech #AI #ESG #Data

At #TradeTechFX Barcelona this week, LMAX Group Managing Director of Digital Assets, Jenna Wright, joins @TheBondDESK @marketsmedia to discuss how FX desks are adapting to the rise of digital assets.

She’ll explore market convergence, regulation and the investor opportunities…

Load More

Related articles

  1. Platform is a one-stop shop for buy side and corporates to tap into data, analytics and trade execution.  

  2. Lead investors include WisdomTree, Bank of America, and Citi.

  3. JP Morgan’s Beta One aims to be a one-stop shop for corporate bond trading.

  4. Samrai's team helps buy-side firms navigate growing complexity with smarter, more integrated solutions.

  5. She succeeds Michael Hunstad, who was named president of Northern Trust Asset Management.

We're Enhancing Your Experience with Smart Technology

We've updated our Terms & Conditions and Privacy Policy to introduce AI tools that will personalize your content, improve our market analysis, and deliver more relevant insights.These changes take effect on Aug 25, 2025.
Your data remains protected—we're simply using smart technology to serve you better. [Review Full Terms] | [Review Privacy Policy] By continuing to use our services after Aug 25, 2025, you agree to these updates.

Close the CTA