In todays uncertain economic climate, a range of companies believe its practical to search for ways they can reduce their expenses. Software solutions and market data are among the targets for cost cutbacks. The good news is that innovations have made it simpler to discover alternative market data solutions that are not only affordable but also effective in accumulating, collecting and sharing delayed data, real-time data and static market data from source to networks.

Adding to the off-the-shelf solutions that have contributed a lot to the reduction of costs, there are services available that are able to fashion solutions that can suit the needs of every company. Usually, the services promote the utilization of their own historical database together with a certain companys present data silo structure in the entire procedure of developing an all-inclusive information system in order to bring-in data and analysis to that companys clients and workforce.

Here are two alternative market data solutions that can grant cost and data management efficiency:

I. Real-Time Data Protocol

Institutions are no longer obliged to build their own low latency distribution system since there are services that already supply a data distribution protocol that consists of data management systems and integrated database silo storage facilities. There are services that supply a group of software that can proficiently distribute real-time market data.

These special tools can manage numerous input feed handlers as well as grant several outputs such as Java applets, web based Comet/AJAX applications and Excel spreadsheets. Furthermore, they grant a choice of APIs that authorizes users to modify inputs and outputs.

This set of analytic tools contains applications such as data retrieval, charting, news story and data publishing. By connecting the typical database of an establishment to the historical database of a specific service, this establishment is able to regain loss data conveniently.

II. Real-Time Data Sharing and Exchange Using Excel

There are software tools that allow Excel users to subscribe and publish data via the internet, data vendors and even internal sources. This alternative market data solution has granted benefits such as:

Sharing and distribution of real-time market data throughout several Excel users.
Permits absolute authorization and compliance screening.
It offers a low latency solution that can instantly shape protocols to suite the network architecture.
It permits the retrieval and configuration of data at any time there is a massive throughput of traffic.

Current alternative market data solutions have not only cut expenses but also upheld the quality of data management. Advancements have developed a solution to assist institutions function even with the current economic ambiguity.