Nasdaq has signed a three year contract for the supply of Hyperfeed Technologies' ticker plant technology, HTPX, which it will use to drive its data distribution system, Data Factory.
Nasdaq will use the system to fast track development of its Data Factory, a proprietary ticker plant that will be managed internally to distribute new data products with greater efficiency.
HTPX enables users to receive, process and distribute data from any source. The ticker plant system will handle market data from Nasdaq as well from other sources, including other equity and option exchanges. The processed data will be fed into a range of internal applications.
Hyperfeed says HTPX can also incorporate the exchange's algorithms to produce entirely new data sets for distribution.
Commenting on the HyperFeed system, Adena Friedman, EVP of Nasdaq strategy and data products, says: "Our analysis showed their technology was the best fit for our current and future requirements. Nasdaq prides itself on its market transparency, and the HyperFeed ticker plant technology will enable Nasdaq to enhance its transparency to the benefit of investors."