Futuresource to use Kdb for commodities database

Futuresource, a US provider of commodities and foreign exchange cash, futures and options data, will use Kx Systems’ Kdb database for its new scalable tick commodities database. The database is scheduled to begin rolling out mid-year, with implementation set for the end of the year.

Futuresource chose fellow US company Kx Systems’ Kdb to help users track ticks on every traded instrument held in its historical database, said Eric Newhuis, Futuresource chief technology officer.

Futuresource was also interested in its ability to analyse large volumes of data quickly and execute time-series queries, added Janet Lustgarden, chief executive of Kx Systems. Kdb receives and stores any type of historical, real-time, financial market data. It also allows customers to create their own search criteria. Users can then integrate their search results or streaming data with historical data, creating a single database for further analysis, Lustgarden said.

The new 30-gigabyte database will replace a 1gb memory database that Futuresource built in-house. Newhuis said the old database was no longer flexible enough to meet the company’s needs. "We always wanted a scalable solution that could handle gigabytes of data at high speeds," he said. Futuresource will use Kx’s K to C language interface, which translates Kx’s proprietary K language into C and allows Futuresource to continue using C++ based analytics. The product uses XML (extensible mark-up language) and dynamic data generation, Newhuis said.

Futuresource began building its browser-based commodities database last year in response to customer demand. Its clients include traders, brokers, hedge fund managers and commodities software developers.

"It’s a fundamental component to our entire business, with emphasis on historical data. It functions as a decision-making analyser before making a trade, not as an order-entry system," said Newhuis.

The new database will cover 40 commodities and FX data sources from the Chicago Mercantile Exchange, American Stock Exchange and the Chicago Board of Trade, feeding more than 68,000 global users through trader terminals. Data is also sourced through third-party vendors to cut costs, Newhuis said, but he refused to name the providers.