The Four V’s of big data are Volume, Variety, Velocity, and Veracity such that firms in global capital markets need the ability to execute on all four V’s in unison and well in order to compete. MayStreet, the capital markets data platform, takes every historical and existing bid and offer on stock, derivative contract, and bond and makes it readily available to be integrated into any workflow, allowing organizations of any size to gain deeper insights into the markets. Clients of the company, which include banks, market makers, quantitative investment firms, asset managers, trading platform vendors, and regulators, now have the most recent data available through GPS-time stamping at the nanosecond level. MayStreet’s platform is so robust and accurate that the Securities and Exchange Commission is even a client.
AlleyWatch caught up with CEO and Cofounder Patrick Flannery to learn more about the company’s mission to make capital markets data accessible and complete, expansion plans to include new asset classes, and the company’s recent funding round.
Who were your investors and how much did you raise?
We just announced our Series A funding round. The round was led by Credit Suisse Asset Management’s NEXT Investors. We raised $21M.
Tell us about the product or service that MayStreet offers.
MayStreet’s market data infrastructure platform delivers the highest-quality, most complete capital markets data available. Combining ultra-low latency platform archite
cture with high-precision, full depth-of-book data, we allow our clients – which range from banks, market makers, and quantitative investment firms to traditional asset managers, trading platform vendors, and regulators – to gain deeper insights into how global capital markets operate. Our platform delivers both real-time and “near-time” intraday historical data, supporting clients’ firm-wide workflows including trade execution and surveillance, performance analysis, historical backtesting, end-of-day reporting, risk, and compliance, and more.
What inspired the start of MayStreet?
After years as engineers at high-performance trading firms, my cofounder Michael Lehr and I found that as trading grew ever faster and more reliant on data, few market participants could internally handle the massive technology challenge it presented. On top of that, there were rapidly expanding constituencies inside each of these organizations who needed data – traders, programmers, risk and compliance professionals, quants, etc. – not to mention a regulatory environment in which regulators were making data management a part of their review, meaning lost packets or incorrect timestamps would equal fines. We thought that because of this, these firms would soon begin looking to third-party technology platforms as the answer, so in 2012 Mike and I set out to build just that.
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