Market data indicator on the way

Does the sheer volume of information exchange really mean anything? You bet it does. Market data appliance company Exegy is working with Essex Radez, a direct exchange and co-location services firm, to re-start MarketDataPeaks.com, a web site that tracks market data rates throughout the trading day.

The site was originally launched in 2008 by Exegy, the Financial Information Forum, and a company known as Xasax. The new site essentially monitors aggregated volume of market data messages across major North American exchanges, highlighting the peaks from the current day as well as historic peaks, notes Securities Industry News.

MarketDataPeaks.com features the total number of messages that occur simultaneously in any given second across all live data feeds including NYSE, NASDAQ, OPRA, CME, ARCA, BATS and Direct Edge, both Level 1 and 2. This may be a useful indicator to some, as the flow of information seems to be correlated with big events. Jeff Wells, vice president at Exegy, told the magazine: "What MarketDataPeaks.com allows traders to do is [determine whether] there is a genuine peak in the market in general, and not just their systems, so they can be more secure in carrying out their trading strategies." Will we see futures and options on the indicator next?

For more:
- here's the Securities Industry News article