Increases in Algorithmic and Black Box Trading Drive Demand for Historical Options Data
WASHINGTON, DC (April 16, 2007) – Tick Data, (www.tickdata.com), the market data division of Nexa Technologies, Inc. (www.nexatech.com), a subsidiary of Penson Worldwide, Inc. (NASDAQ: PNSN), and the Chicago Board Options Exchange (CBOE) today announced the release of the industry’s first commercially-available research-ready historical tick database for the U.S. equity options market. The new database contains all U.S. equity options data from the consolidated Options Price Reporting Authority (OPRA) feed dating back to July 2, 2004.
Tick Data and CBOE worked closely together to create the database and its supporting corporate actions, which can be used to design, test and validate algorithmic options trading models. Additionally, the data can be used for pre- and post-trade analysis and optimization of execution strategies.
“In recent years our clients have expressed an increased demand for this product, particularly as attention toward algorithmic and black box trading in equity options has increased,” explained Neal Falkenberry, SVP Tick Data Division, Nexa Technologies, Inc. “However, the sheer volume of options data has always made the prospect of a tick-by-tick historical database a difficult one. Thanks to significant advances in data storage and processing power, and through the diligent work of our development team, we can now offer a research-ready database of historical intraday options data. This development represents a significant step toward our ultimate goal of being the world’s central repository for historical intraday
With more than 20 years of experience, Tick Data is considered a pioneer in the field of historical intraday market data. The U.S. equity options market represents the third primary asset class to be covered by Tick Data, which also offers data solutions for Futures and Equity markets. Options in the database are mapped for corporate actions of the underlying stock, including stock splits, cash and stock dividends, and symbol changes. A daily update service will also be available.
“We were very pleased to partner with Tick Data in developing this highly sophisticated database,” said Patrick Fay, CBOE Senior Vice President, Member and Regulatory Services. “Until now, it was difficult to get this type of options data in a ready-to-use, consolidated and clean fashion. The ability for clients to access this data in an efficient and easy-to-use manner is a value that cannot be overstated. We are very excited about the rollout of this product, and we think the industry will be too.”
“The release of this Options database from Tick Data further strengthens Penson’s overall offering in the Futures and Options markets,” said Daniel P. Son, president and co-founder of Nexa’s parent company, Penson Worldwide, Inc. “This new product, plus Penson’s recent acquisition of leading international futures clearer GHCO, demonstrate our ongoing commitment to providing clients across a variety of asset classes with the best-of-breed services, solutions and technology available in the market today.”
About Nexa Technologies: www.nexatech.com
Nexa Technologies, Inc. is a provider of online and direct access trading solutions. Founded in 1999, Nexa Technologies is an independent subsidiary of Penson Worldwide, Inc. Its comprehensive product set incorporates multi-asset direct access trading systems, FIX-compliant order routing, an Order Management System (OMS), comprehensive data and market access to European & North American equity, options and derivatives exchanges and ECNs.
Nexa Technologies added historical intraday time series data into its product range in January 2005 when Penson Worldwide acquired Tick Data, LLC The Tick Data division, which provides clean, reliable historical intraday time series data for the equities and futures markets, employs proprietary compression algorithms, price-filtering techniques, and ticker symbol mapping processes to produce complete, research-ready historical data. From efficient data collection and distribution to seamless integration with third-party analytical software, the Tick Data division removes the frustration from building and maintaining historical databases.
About Penson Worldwide: www.penson.com
The Penson Worldwide group of companies provides execution, clearing, custody, settlement and technology infrastructure products and services to financial services firms and others servicing the global financial services industry. The Penson Worldwide group of companies includes Penson Financial Services, Inc., Penson Financial Services Canada Inc., Penson Financial Services Ltd., Nexa Technologies, Inc., Penson GHCO, First Capitol Group, LLC and Penson Asia Limited, among other companies. Headquartered in Dallas, Texas, Penson has served the clearing needs of the global financial services industry since 1995. Penson is the Flexible Choice in Global Financial Services.
About Chicago Board Options Exchange: www.CBOE.com
CBOE, the largest U.S. options marketplace and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, visit the CBOE website at: www.cboe.com.
Source: Tick Data