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OptionMetrics Leverages SpryWare FASTOR for Intelligent and Accurate Market Data

OptionMetrics Leverages SpryWare FASTOR for Intelligent and Accurate Market Data

New York, NY (Business Wire) – October 07, 2008

SpryWare, a technology provider of low-latency standardized financial market-data via direct exchange feeds announced today that OptionMetrics is leveraging SpryWare FASTOR as a resource and archive facility for every trade and quote from all major
equity, option and future exchanges. Using FASTOR, OptionMetrics, the leading provider of intelligent data that turns volatility into opportunity, is able to provide clean, accurate and smart data for its customers. Since switching from another data provider to FASTOR, OptionMetrics has experienced a 50 percent increase in data accuracy and outstanding customer service.

SpryWare FASTOR is an archive of all trades and quotes for equities, options and futures stored in the FIX Adapted for Streaming (FAST) format. The FAST Protocol, co-authored by SpryWare, is the highly compact market-data standard that radically
reduces the bandwidth required to transmit ever-increasing real-time market-data message rates. Applying this protocol to mass storage of tick-by-tick data, SpryWare is able to make available very large amounts of tick data in an ultra compact format. The FASTOR archive is immediately available to companies like OptionMetrics and is much easier to data manage because of the compact size. Instead of the traditional 10:00 p.m. data reporting, OptionMetrics now receives this several times a day from FASTOR and leverages it in its products to ensure that its customers have the most up-to-date and accurate options data possible.

“We wanted to work with a data provider that understood the technology and business of the options market,” said David Hait, CEO of OptionMetrics. “From the first conversation with SpryWare, they understood our very specific needs and worked to deliver exactly what they promised. For us, the business benefits of working with SpryWare have been phenomenal. We receive all of our data, timely and accurately with the satisfaction of knowing that we are working with a provider that understands and cares about our business.”
OptionMetrics realizes that the right data gives traders an edge in a trillion dollar market. OptionMetrics’ products, OptiGraph and IvyDB allow customers to view historical options pricing and use this information to leverage implied and historical volatility. By giving traders access to this timely and accurate information, it allows them to make the right decisions at the right time.

“As a specialist of low-latency market-data, we knew we were the perfect fit to ensure OptionMetrics was achieving the best and  most precise data possible,” said Daniel May, director and co-founder of SpryWare. “With our expertise on normalizing and compressing data to achieve as low-latency as possible, we saw it as a great opportunity to apply the same techniques to stored historical data. The result was FASTOR, a concise, compact historical data store that delivers the pertinent market data events in an efficient, easy to use delivery platform.”

In addition to SpryWare’s focus on innovation, the company works extremely closely with its customers to not only ensure that they are getting everything they need from the direct data feeds, but to also listen to the challenges their clients face in the marketplace. SpryWare’s collaboration with OptionMetrics to obtain the massive amounts of historical data more efficiently is a true testament of this focus and collaboration.