Market Insight

Decoding and analysis of high-speed market data feeds

 
 

Market Insight transforms raw packet capture into decoded financial market data, providing clear visibility into the real-time feeds that underpin global trading. It enables operators to monitor feed integrity, validate delivery, and analyze performance without needing to replay terabytes of packet data.

Why Market Insight?

  • Feed decoding – Extract meaningful market data messages directly from high-speed multicast streams.

  • Integrity monitoring – Detect missing packets, sequence gaps, and latency in real time.

  • Service assurance – Ensure accurate and complete delivery of feeds to trading systems and downstream clients.

  • Audit and compliance – Retain decoded records for long-term analysis, review, or regulatory reporting.

Architecture and Performance

Market Insight runs as a containerized application on FMADIO appliances, using the capture–decode–database pipeline:

  • Line-rate capture – Handles 10G/40G/100G market data feeds without packet loss.

  • Real-time decoding – Translates raw packets into structured market data formats.

  • Centralized export – Forward decoded data into ClickHouse for multi-feed analysis and long-term retention.

  • Container isolation – Operates independently of capture services for stability and ease of deployment.

Use Cases

  • Exchanges – Validate dissemination of market data to participants and detect transmission issues.

  • Trading infrastructure providers – Monitor multiple feeds for completeness and delivery quality.

  • Regulators – Retain decoded market data for compliance checks and forensic investigations.

  • Operations teams – Troubleshoot network or application-level issues affecting feed delivery.

Key Differentiators

  • Complete visibility – Decode directly from raw packets, not sampled or incomplete data.

  • Protocol awareness – Supports high-speed multicast and market data protocols.

  • Fast queries – Store and search decoded messages in ClickHouse at scale.

  • Correlated with PCAP – Pivot from decoded records back to raw packet capture for forensic depth.

Reliable Market Data at Scale

Market Insight provides the transparency and assurance needed for operators of financial networks. By decoding feeds at line rate and making them searchable in real time, it ensures that every participant — from exchanges to regulators — can operate with confidence in the accuracy and integrity of market data delivery.

 

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