Asset Control Launches ACX Data Platform

Financial data management solutions provider Asset Control has launched a cloud-deployed platform designed to offer easier access to market data. 

“AXC is a market data platform that is serving use cases more for business users and quants to help them get their hands on clean, trusted market data more easily than they have before,” says Martijn Groot, VP of product management at Asset Control.  

The platform was built on a Cassandra/Spark stack using NoSQL technology to enable quants and clients in product control to interact with market data via their own models for simpler data onboarding. 

“[Quants and firms] want to have similar enterprise search capabilities on their internal data universe, so we wanted to build a product that fits these use cases with data discovery and exploration to help firms make the most of their market data,” says Groot.

ACX offers access to market data from Asset Control’s data mastering solution AC Plus and other data sources. The solution is currently deployed on Google’s cloud service to enable simplified internal IT infrastructure.

“We found that many of the larger firms may use Asset Control products already to source and master data. Then they tend to store it in multiple places because of scalability constraints or operational constraints, or don’t have an easily scalable, flexible, and cost-effective way to share all the data internally. That is what we want to address with ACX,” says Groot. 

The platform was designed to address client demand for a product to ease infrastructure overloads due to high volumes of data needed for regulatory compliance, he adds. 

ACX was created in conjunction with a London-based bank, which Asset Control declined to identify.