MIAX Polishes ‘Pearl' Market With Expanded OneMarketData Deal
MIAX Options' holding company has used OneMarketData to support its main market for five years already.
OneMarketData has worked with MIAX Options for around five years, and has been working to implement OneTick with Pearl for a little over six months.
MIAX will use OneTick to perform pre-and post-trade analysis and data storage, as well as to provide usage reporting, execution quality analysis, customer support, compliance and real-time surveillance.
"The typical use of OneTick at an exchange is to augment or enhance their overall capability and service to their client base. We underpin how they capture and store data so they can build out their own solutions for a wider set of capabilities around surveillance and also their best execution models. They want to repeat this with MIAX Pearl," says Louis Lovas, director of solutions at OneMarketData.
The volumes on Options exchanges are considerably higher than equities or fixed income markets, and hence require a solution that can compress and collect large amounts of data, Lovas adds.
"The OneTick solution was an obvious choice for us based on the success of the initial implementation MIAX Options has with OneMarketData," says Randy Foster, senior vice president of business systems development at Miami International Holdings, in a statement.
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