OpenMAMA Progress Heralds True Vendor Choice

Apr 24, 2017

London and New York, 24 April 2017

Recent OpenMAMA project developments greatly strengthen the case for its adoption in a market data strategy for increased quality, flexibility, choice and cost reduction.

Version 6 of the OpenMAMA market data API, released in September 2016, closely followed by version 6.2.0 in March this year, enhanced many technical aspects and, importantly, aligned release numbers between the open source OpenMAMA and Vela’s commercial MAMA API. Applications supporting either API at the same version level will now work interchangeably, making application compatibility more obvious and switching between middleware simpler.

OpenMAMA enhancements have the potential to trigger significant re-thinking of market data sourcing and technology strategy, says Andrew Miller a consultant on the OpenMAMA project. The unification of release numbers underlines the independence of OpenMAMA from any particular member of the steering committee.

This independence is attracting others into the community: Arcontech has joined the Steering Committee; MDX Technology offers an OpenMAMA interface to its MDXT Connect API abstraction layer; and Dacoma has created “DOME”, an alternative market data platform which combines components using OpenMAMA to suit client requirements. Other suppliers have developed or are in discussions about OpenMAMA interfaces and several Tier 1 banks have joined a new OpenMAMA Advisory Group.

The recent creation of an OpenMAMA ‘bridge’ for the popular ZeroMQ middleware provides further choice of end-to-end open source market data transport, paving the way for an alternative to incumbent proprietary middleware such as Thomson Reuters TREP and TIBCO’s TIB. This joins the bridges written by Tick42 for TREP and Bloomberg and those from Redline, Solace and Vela and for their own products, extending user choice and facilitating migration.

Frank Quinn, who developed the ZeroMQ bridge independently, said: Whilst there is already a Qpid middleware bridge bundled as part of OpenMAMA project, ZeroMQ is much faster and arguably more popular.

ZeroMQ is not in itself an alternative ‘market data platform’ but OpenMAMA extensions already completed, coupled with those in the pipeline, ease the path.

These OpenMAMA extensions include:

Combined with an increasing wealth of compatible products, such as last-value caches, distribution hubs and Excel add-ins, OpenMAMA is shaping up to be the strategic market data API of choice for firms that must reduce costs without comprising quality.

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