Forefront Communications

WatersTechnology: NICE Taps SIX-Xignite Cloud Data Combo for Trade Surveillance


Forefront Communications

Forefront Communications

NICE Actimize has rolled out data from cloud-based microservices developed via a collaboration between Swiss data vendor SIX and San Mateo, Calif.-based web services data provider Xignite to power its Surveil-X trade surveillance tool.

The vendor is preparing to go live with the joint solution “any day now,” after completing some final data validation, says Sam Sundera, head of future business at SIX, who is based in the San Francisco Bay Area, and is responsible for dealing with partners, new technology data and initiatives, and with banks’ innovation labs.

The data includes all the market and reference data available via SIX’s MDF, and VDF feeds, respectively. Xignite connects to SIX’s data in a co-location facility, where it deploys feed handlers to process the feeds, then sends the data to its ticker plant in Amazon Web Services’ cloud. Xignite recently unveiled its suite of data management microservices to support clients’ migration to cloud services.

“When we started talking to NICE, they told us that they wanted to migrate to a cloud solution, and they wanted data from more than 170 markets, whereas we had around 50. So we recommended they use our technology, and use SIX as a potential source,” says Xignite CEO Stephane Dubois. “SIX has been a long-term provider of data to us, so we already have lots of interfaces to their feeds and data.”

Xignite and SIX needed to collaborate on some enhancements relating to data capture. Because NICE Actimize is using the data to support trade surveillance and fraud detection, Dubois says the vendors needed to provide not just quote and trade data, but also the context around specific trades. “They need to query massive amounts of quote and trade data. So … we needed to enhance the capture of quote data as well as trade data,” he says.

Though not the incumbent provider of data for Surveil-X, SIX had existing on-premise data relationships with NICE, which wanted an entirely cloud-based platform to power the surveillance tool, Sundera says. “That was something we couldn’t have delivered alone. So, working with Xignite, who does that really well, allowed us to serve that need. We have some very valuable, rich datasets … and Xignite allows us to make that available to new customers.”

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