Best Big Data Analytics & Technology Provider: McObject
Inside Market Data & Inside Reference Data Awards 2019
![IMDIRD19 – 33 Best Big Data Analytics & Technology Provider – McObject](/sites/default/files/styles/landscape_750_463/public/2019-06/IMDIRD19%20%E2%80%93%2033%20Best%20Big%20Data%20Analytics%20%26%20Technology%20Provider%20%E2%80%93%20McObject.jpg.webp?itok=-hVqILdC)
The award for Best Big Data Analytics & Technology Provider goes to McObject for its capital markets database management system, eXtremeDB High-Performance Computing (HPC), which aids financial firms in addressing the challenges of handling growing volumes of data with the lowest possible latency to support key application functions such as risk management, order booking and matching, and compliance.
eXtremeDB HPC is a full-featured database management system with support for industry standards including SQL, Open Database Connectivity and Java Database Connectivity for multiprocess concurrency and transactions that support the ACID—atomic, consistent, isolated and durable—properties. It is an embedded or in-process database system designed to be integrated within applications requiring little or no maintenance by end-users.
“McObject is the only company that has a server database for high-performance computing that originated out of embedded systems, which people call the Internet of Things (IoT) today,” says Chris Mureen, COO of McObject. “There is a lot of synergy between what is happening today in IoT and what is being required in some of these high-performance computing server platforms in capital markets. Key is time-series data and the need to do high-performance analytics and build complex algorithms, which led us to enhance the product not only to have extremely fast data management, but to include 150 built-in vector-based math functions to build high-performance algorithms.”
eXtremeDB HPC helps financial firms conduct analysis of both real-time and historical datasets—particularly pertinent for compliance with new regulations such as the Fundamental Review of the Trading Book (FRTB). It is estimated that FRTB, which has an implementation deadline of January 1, 2022, will require market participants to store and analyze 10 times more time-series market data than at present. For example, while risk is currently calculated at entity level, one of the stipulations of FRTB is for risk to be calculated at desk level, which will result in an unprecedented amount of data, analysis and reporting.
“McObject’s eXtremeDB helps clients address this and other data-related challenges with its high-speed processing and ability to handle extremely large and complex time-series datasets,” Mureen says.
Last year, eXtremeDB achieved record-breaking benchmark results when independently tested and audited by the Securities Technology Analysis Center (STAC), using the STAC M3 benchmark suite. The M3 benchmark is the industry standard for testing high-speed time-series data analytics. Mureen says: “Of these 17 tests, we set five new records for fastest mean response times, and for standard deviation or jitter, we set records for seven of the 17 operations.”
Read more about the Inside Market Data & Inside Reference Data Awards 2019 winners
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Waters Rankings 2024 winner's interview: Vneuron
Vneuron Risk & Compliance won the best AML compliance solution provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner's interview: Cloud9
Cloud9, part of Symphony, won Best trading floor communication system provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner's interview: AI Risk
New York-based AI Risk won the Best cyber security provider category in this year’s Waters Rankings.
Waters Rankings 2024: Best performance measurement and attribution system provider—FactSet
Product/service: FactSet Performance Solutions
IMD & IRD Awards 2024 winner's interview: Tradeweb
Tradeweb won Most innovative market data project in this year’s Inside Market Data & Inside Reference Data Awards.
IMD & IRD Awards 2024 winner's interview: S&P Global Market Intelligence
S&P Global Market Intelligence won Best corporate actions data initiative in this year’s Inside Market Data & Inside Reference Data Awards.
Waters Rankings 2024: Best outsourcing service provider—Northern Trust
Product/service: Integrated Trading Solutions