Achieving Vendor-agnostic Market Data APIs

The installation of an end-user level abstraction layer within market data systems can enable:

• financial institutions to overcome the phenomenon known as vendor lock-in, which hampers decision-making and is enabling market data vendors to exercise excessive supplier power over end-users;
• market data systems to become more scalable and more agile as IT teams can develop end-user applications based on a common standard rather than conforming to different proprietary technologies;
• financial institutions to lower the total cost of ownership of their market data systems through leveraging the benefits of the open source approach and sharing development resources and increased scrutiny of the source code; and
• market data end-users to reduce the budgetary burden of developing non-competitive software and refocus budgets on development work that can provide competitive advantage.