PRODUCTS & SOLUTIONS / GUIDE
A market data path must establish how data enters, how it is interpreted and how it reaches consumers. Annhoo lists a market data platform and an acceleration card. Institutions can evaluate these around data completeness, processing paths and consumer interfaces.
Market data platform owners, quantitative developers and data infrastructure teams at securities firms, futures firms and private fund managers operating in China.
KEY CONSIDERATION
Ingestion receives messages from authorized sources and identifies protocol, sequence and time information. Distribution delivers processed data to strategies, risk systems or research applications. Define the cleansing and aggregation rules between these stages so consumers interpret fields consistently. Evaluation should also establish data usage rights and subscription scope for the intended source and recipients.
KEY CONSIDERATION
Securities and futures feeds may differ in fields, update methods and trading sessions. Interpret depth data according to the specific source. Review snapshot and incremental update relationships, duplicate messages and sequence gaps before assessing parsing acceleration. A unified interface should retain essential source semantics so strategies can interpret events and engineers can trace anomalies back to the original data.
KEY CONSIDERATION
Historical replay can validate parsing rules and strategy consumption, provided the test preserves relevant event ordering and traffic characteristics. Observe timestamps at ingress, processing completion and the consumer. Include feed bursts and slow subscribers to distinguish source delays from platform queues and application processing. These observations form a basis for acceptance criteria that another team can reproduce.
FAQ
An acceleration card focuses on hardware processing such as protocol parsing and preprocessing. A platform addresses system functions including ingestion, cleansing, aggregation, distribution and replay. Choose a combination based on the bottleneck and validate field semantics and interfaces between the components.
No. Message parsing capability, data usage authorization and actual access conditions are separate matters. For each target source, verify protocol versions, licensing scope, network conditions and onboarding requirements, then confirm the applicable product scope.
An average can conceal queues during feed bursts and lag at individual subscribers. Inspect latency distributions, data gaps, event ordering and consumer backlogs. Compare alternatives using the same input data and timestamp measurement definitions.
