Capital Fund Management Taps NYSE Technologies for Market Data Integration

Capital Fund Management (CFM), the largest French private hedge fund, has tapped NYSE Technologies to provide market data distribution and integration software in its New York and Paris operations. The firm is using NYSE Technologies' Middleware Agnostic Messaging API (MAMA) to deliver data to its trading systems, which handle 100% of the firm’s order flow electronically.

Jacques Sauliere, COO at CFM, comments: “Since we connect to all major US, European and Asian markets, NYSE Technologies was the clear choice considering the breadth of coverage available through its extensive range of feed handlers, its cutting-edge market data distribution platform and comprehensive value-added services.”

NYSE Technologies, which currently offers more than 160 sub-millisecond feed handlers, provides CFM with connectivity to a mix of direct market data feeds including NYSE OpenBook, NYSE ARCA Options, NASDAQ ITCH and CME Multicast. This is complemented with connectivity to a vendor consolidated data feed.

Sauliere explains: “The consolidated datafeed serves as a back-up, providing the optimal mix of resilience and coverage needed for CFM’s global trading operations.” NYSE Technologies’ Market Data Platform provides capital market participants with the ability to seamlessly integrate with a variety of messaging technologies.

Sauliere adds, “During the implementation phase, NYSE Technologies provided us with the ability to work alongside our existing middleware vendor while we transitioned to our new low-latency platform. We were able to consolidate our use of APIs by using its middleware API and write all of our applications to MAMA with the ability to upgrade our middleware in line with technology advances.”

In addition, CFM also uses NYSE Technologies’ Data Access and Reporting Tools (DART) Entitlements to control user and application access to the market data feeds and report on unused or underused market data services. Other value-added services include performance monitoring and a real-time tick capture adapter that consumes data from any industry standard or ODBC database for post-processing of internal data.