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MayStreet to Provide Market Data for SEC's MIDAS Platform
Traders Magazine Online News, November 7, 2019
MayStreet, a modern market data platform engineered to deliver the highest-quality, most complete capital markets data commercially available, today announced it has assumed the role of market data provider for the U.S. Securities and Exchange Commission’s (SEC) Market Information Data Analytics System (MIDAS). The SEC has transferred the vendor contract by novation from the previous provider, Thesys Technologies, as part of MayStreet’s acquisition of Thesys’ business unit that operates MIDAS.
The SEC’s MIDAS platform combines advanced technologies and empirical data to enable the Commission to better monitor and understand short- and long-term market trends and achieve dramatically better insight into the functioning of the capital markets.
“We are thrilled to be taking over the MIDAS system for the SEC,” said Patrick Flannery, CEO and Co-Founder at MayStreet. “This is a huge validation of our vision to build and deliver a next-generation market data platform for modern capital markets, and we’re excited to be entrusted by the SEC with responsibility for such a mission-critical system.”
Beginning November 1, 2019, MayStreet contracted directly with the SEC to provide all US equities, options and futures data as it relates to MIDAS. In the initial phase of the transition, MayStreet will implement its proprietary data packet capture technology. All existing MIDAS data transformation, cloud storage and client access technology will be retained in the short- to middle-term to ensure a smooth transition of the MIDAS system to MayStreet.
MayStreet was founded in 2012 by software engineers with deep expertise in building market data systems for some of the world’s most performance-dependent market makers and proprietary trading firms. Combining ultra-low latency platform architecture with high-precision, full depth-of-book data, MayStreet enables its clients to gain deeper insights into how global capital markets operate. MayStreet provides the only market data platform that delivers both real-time and instant intraday historical data through a single API - supporting firm-wide workflows, from trade execution and surveillance to instant market analysis, end-of-day reporting, historical back testing, and more.
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