ICE Launches Cloud-Based Tick History Platform

Intercontinental Exchange (ICE) has launched a cloud-based tick history platform called ICE DataVault. 

Rui Carvalho, head of product management for feeds at ICE Data Services, says the new platform offers a “cloud-based tick history service, global coverage and depth of history”.

Tick data is very granular and generates large volumes and big datasets. Carvalho says that because DataVault is cloud-based, the rapid rate and low cost of data transfer from provider to client can help data management.

ICE DataVault provides multiple access points. It covers the front and back offices across capital markets, including market surveillance, trade surveillance and back-testing or future-proofing requirements. It is backed by ICE Global Consolidated Feed, which delivers real time data from over 600 global sources for over 23 million instruments.

Back-testers, quants and data scientists have typically been the main consumers of tick data. Carvalho says this is changing, however: this kind of data is no longer just being used to hone a trading strategy or an algorithm. Many more uses in the front and middle office, in risk and compliance, are becoming apparent.

“We are seeing a lot of demand for tick history now in new use cases, such as regulatory filings,” says Carvalho. “If you think about best execution trade cost analysis, for example, we are seeing an emergence in use cases around regulatory compliance. That definitely is an expansion in the applicability of tick history.”