Beeks Analytics (formerly Velocimetrics) the provider of real-time business performance monitoring and analysis solutions to the global financial community, today announces that City Index, a leader in spread betting, CFDs and forex trading, has implemented Beeks Analytics. The deployment provides independent monitoring of City Index’s equities price production infrastructure and market data quality, supporting on-going efforts to effectively manage operational risk and ensure the continuous publication of fast, high quality pricing.
In an environment where the availability of reliable, accurate and timely market data is essential to price production, the real-time solution raises instant alerts should degradation occur in the quality of market data received from exchanges. Beeks Analytics also rapidly detects possible sources of latency across the entire price production process; from the moment market data is generated on the exchange through to the price being received by a client. By doing so, City Index is able to accurately pinpoint the exact location of any issue occurring across its complete environment and trace any given price back to the market data tick that generated it, facilitating the problem’s quick resolution.
The solution helps City Index to further improve the timeliness and quality of prices delivered to their clients, allowing them to react more quickly to market conditions. Beeks Analytics has helped City Index achieve this by producing detailed, real-time business level analytics, which enable City Index to instantly understand how performance issues may be impacting prices, trades and client experience.
Commenting on the recent implementation, Gautam Dixit, Head of Pricing and Analytics at City Index stated:
‘We view the delivery of high quality pricing as essential and by implementing end-to-end monitoring of our entire price production process, we are adding an additional layer of quality and risk management to our pricing.’
A representative of Beeks Analytics added:
‘We are witnessing a growing trend among firms keen to really understand the quality of the market data on which they are basing pricing decisions, beyond more traditional measures such as timeliness, and identify opportunities to increase price publication or trade execution performance. These innovative firms are pushing the boundaries of what many have come to traditionally expect from their performance monitoring solutions and as a result are able to very effectively control their exposure to operational risk.
City Index Group is one of the leading global providers of retail trading services, transacting in excess of 2 million trades per month for the group’s customers around the world.
City Index trading platforms give access to thousands of derivatives on global financial markets, including; Spread Betting, Contracts for Differences (CFDs) and margined foreign exchange (FX).
The Group trades primarily under the City Index, Finspreads and FX Solutions brands and also provides a fully outsourced white label solution.
City Index’s award-winning mobile and tablet app provides full and secure access to customers’ trading accounts, whenever and wherever they want.