Market Data Works

Comprised of Studio, Metrics, Warehouse, and now ReplayService™ for RV, this suite provides multiple capabilities for improving testing, development, and administration of market data

In the electronic trading era, it's critical to have tools that allow you to work efficiently with market data. In the past, simple utilities were sufficient to test and administer market data consuming applications and distribution infrastructure. No more. In today's world, the ability to rapidly evolve your trading, pricing, risk and other market data consuming software systems is central to profitability. Market Data Works was built to service this need.

Market Data Works Components

Market Data Works comprises four components, each servicing a separate constituency within the market data world.

  • Market Data Studio - Allows developers and QA groups to create precise, repeatable market data scenarios for playback and testing.
  • Market Data Metrics - Allows administrators to stress test their market data hubs, monitor and audit latency across the hub, check trade compliance, and analyze data problems by exposing data rate and content issues.
  • Market Data Warehouse - Provides an extremely simple, but highly scalable, flexible and robust means for capturing market data in a relational database.
  • ReplayService for RV - Allows developers, QA groups and market data administrator to record, custom encode/decode, and replay TIBCO Rendezvous messages for message selection and recovery, testing and issue resolution.

Core Features

  • New Feature: Setup trade and market data compliance checks. ReplayService™ for TREP now has the ability to quickly and easily see which trades were executed within the best BID/OFFER spread and which were executed outside of the spread.
  • New Feature: Comparing IDN data with Elektron data. ReplayService™ for TREP now has the ability to compare data (both updates and snapshots) between IDN and Elektron in both the Marketfeed and OMM formats.
  • New Feature: DevStudio allows the user to start a replay in Debug Mode and then step through updates tick by tick, set breakpoints and replay to them, inject various status messages into the replay stream, and modify FIDs and replay them on the fly. See Debugging your Market Data Applications for more information.
  • Record and Replay data from Thomson Reuters direct feeds, Elektron Edge Devices, TREP/RMDS using both marketfeed and OMM formats
  • Centralized Administration for multiple local and remote instances of ReplayService™ within a single GUI
  • Wizard-driven control over common market data tasks
  • Interactive Histogram for recordings and replays
  • Script Recorder provides a step-by-step recorder to assist in Test Case creation and automation
  • High performance recording
  • Recorded data can be manipulated and transformed to contrive arbitrary market data scenarios for replay
  • Thomson Reuters Tick History can be imported for replay
  • Keeps a historical tick-by-tick database - allows for the migration of data to relational databases
  • Allows any data range to be selected for replay
  • Preserves timing relationships between updates during replay
  • Update rates can be compressed, expanded or paused during replay on an ad hoc basis
  • Lightweight - runs on a laptop and most other hardware
  • Large file based storage: up to 2 exabytes - no storage configuration required
  • Market data files can be easily copied and moved, allowing TREP/RMDS testing in any location, even on standalone workstations or laptops
  • Datastore can be purged while recording and replaying
  • Supports initialization of market data applications through data dictionary downloads and initial value snapshots
  • Heartbeats and source status messages support market data semantics
  • Provides statistics on stored and replayed messages
  • GUI interface, command line ReplayShell and Administration API

Market Data Works Key Benefits

  • Advanced testing of market data consuming applications
  • Auditing market data streams and analyzing market data issues
  • Editing market data to create scenarios to be replayed
  • Off-shore or remote development without need for a market data platform
  • Monitor and audit latency from the exchange and across Thomson Reuters Enterprise Platform for Real-time
  • Performance & Capacity planning exercises
  • Elegant and simple capture of market data to a relational database or spreadsheet

Market Data Works is priced in a manner that makes it attractive to provide the tool as broadly as possible within an organization. In so doing, Market Data Works can realize remarkable savings within the enterprise.


Market Data Works is available on the following platforms:

  • Windows XP-SP2 (or later) and Windows Vista
  • Windows 7 (x86/x64)
  • Windows Server 2003 R2
  • Windows Server 2008 R2 (x86/x64)
  • Red Hat Enterprise Linux 4/5/6 (x86/x64)
  • SUSE Linux Enterprise Server 9/10/11 (x86/x64)
  • Solaris 8/9/10 (SPARC)
  • Solaris 10/11 (x86)
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