Nasdaq OMX has announced the launch of a major new business intelligence solution for capital market operators called MiQ. Developed in partnership with Datawatch, a provider of visual data software, MiQ allows organizations to visualize cross-system data to derive new insight in real-time.
MiQ offers financial market operators a tailor-made and centralized data management solution for "supporting the trade lifecycle, reducing the challenges associated with data volumes, processing, storing and retrieval, and speed of extraction," according to the release.
In an ever-evolving market, market operators are often joining multiple systems and data feeds, but face inefficiencies in they way data communicates and the operator's ability to draw intelligent conclusions.
Nasdaq hopes MiQ's real-time reports that pull information across a firm's multiple systems and pre-defined dashboards will help firms to better identify trends, gaps in current offerings, and to uncover new revenue streams from existing data. A centralized master database infrastructure can also reduce the cost and complexity of managing multiple data systems.
âThe launch of MiQ will significantly improve how market operators effectively and strategically manage and analyze their data,â said Lars OttersgÃ¥rd, senior vice president of market technology for NASDAQ OMX in the press release. âEnabling organizations to be more informed through better data intelligence taken across the entire trade life cycle will help drive liquidity and market share, grow revenues, enhance client services and stay ahead of competition. We are proud to bring this offering to the marketplace.â
MiQ was announced at Nasdaq's Technology of the Future (ToF) bi-annual conference in Sweden.