Alpha Exchange Tuesday announced plans to launch a new market data service that will deliver its data from the “cloud”.
Starting in August, Alpha Exchange’s last sale data, including real-time last sale prices and minute-level tick bars for all securities trading on the exchange, will be available on the Xignite Market Data Cloud platform.
In the second phase of this project, it will launch the Alpha Data Cloud, a suite of cloud-based market data services powered by the XigniteOnDemand platform. This will provide both real-time and historical data, and is slated for the fourth quarter.
Alpha Market Services Inc., the data distributor for Alpha Exchange, and San Mateo, Calif.-based Xignite Inc. announced their agreement to launch the new services Tuesday.
“Alpha Exchange prides itself in being a leader in innovation, an enabler of technological initiatives and a proponent of market data democratization,” stated Jos Schmitt, CEO of Alpha Exchange. “Putting in place a market data cloud solution with Xignite as well as being its first non-US exchange partner is a natural but also a very exciting step forward for the Exchange.”
Alpha Exchange is part of Alpha Group, an organization set up by nine Canadian financial institutions.