IMD & IRD Awards 2022: Best low-latency data or technology—Iress

OVERVIEW

Iress’ new business unit, API Data & Trading Solutions (ADTS), delivers high-performance API data feeds and trading infrastructure services to more 500 institutional clients worldwide, enabling them to access data from a single source. ADTS was created following the acquisition of API trading specialist QuantHouse; the new division brings together QuantHouse’s product expertise and underpins it with the scale of Iress.

THE SOLUTION

Iress’ API Data & Trading Solutions are used by capital markets firms to integrate trading strategies, applications and analytics databases. Its solutions provide access to data from more than 145 exchanges, delivered in both raw and normalized formats. Data is redistributed via a high-speed, global network to 20 points of presence, as well as managed connectivity options, ensuring that clients can access data from any location.

Over the last year, Iress has made a number of enhancements to its cross-linking abilities for reference data: Lists of instruments have been cross-linked with underlying, fundamental characteristics and third-party identifiers. The improvements have delivered higher data quality for clients, along with better coverage. Additionally, Iress has extended its coverage by adding 30 new datafeeds over the last 12 months, including the Minneapolis Grain Exchange and Nasdaq BX Options in the US; the Bombay Stock Exchange in India; and Deutsche Börse Customized and Focus Indices, and Euronext Dublin funds and bonds in Europe.

WHAT’S TO COME

Iress will continue to invest in its people and products. In 2021, it delivered over 3,000 hours of sales and service training to its 2,200 employees and introduced its “Long Weekend,” a new way of working that entitles all employees up to six long weekends every year.

From a product and service perspective, Iress invests over AUS$170 million ($121 million) into software development each year. Key developments include its cloud transition and optimization program. In 2021, it appointed a new global head of product–platform to lead this transition and more than 2,000 clients made the switch to Iress Cloud Platform over the course of the year. The company is also reviewing its ESG strategy. 

WHY THEY WON

Melbourne-based Iress’ acquisition of QuantHouse, a Paris-based low-latency data and trading technology provider, has elevated it to the ranks of the data industry’s big hitters. QuantHouse was a regular winner in these and other WatersTechnology awards in the past, most notably in this category. The combined entity will have a significant market presence, not only in the low-latency data realm, but also when it comes to the availability and delivery of high-quality reference data, which clients can access through API or via the cloud.