MayStreet introduces cloud-based data management service
Traders now have a new way to collect raw market data and translate it into the formats they need for research and compliance: a cloud-based service introduced in April by MayStreet, a New York startup.
The cloud-based data-as-a-service system for U.S. equities, options and futures markets is intended to fill the need for both buy-side and sell-side firms to collect high-precision data from each liquidity node in the network and translate and analyze it in a cloud-based computational resource, executives say.
MayStreet was co-founded by Patrick Flannery, chief executive officer and a former technology specialist of Sumo Capital, and Michael Lehr, chief operating officer, who was most recently with Organic Motion, a software development firm, where he was software architect, principal engineer and VP of Engineering.
"Our primary goal has been to build foundational tools that would exist in any top-tier high-frequency or marketing-making firm, making them readily available as fast-time-to-market, affordable, modular products,” said Flannery.
The service is intended to reduce cost, complexity and the infrastructure needed to operate a high-frequency trading company.
