NEWTOWN, PA — EPAM Systems (NYSE: EPAM) built key technology infrastructure for EuroCTP, the European Union’s first mandated consolidated tape provider for shares and exchange-traded funds, giving the Newtown-based technology company a role in an effort to centralize fragmented European trading data.
EuroCTP went live Sept. 14 with a regulated system aggregating real-time pre- and post-trade information from European markets into a single data stream.
European market data has historically been distributed across about 130 trading and trade-reporting venues spanning dozens of countries, creating differences in how investors access and pay for trading information. EuroCTP is intended to consolidate that data.
EPAM served as EuroCTP’s strategic engineering and delivery partner, co-designing and building the cloud-native portion of its hybrid infrastructure.
The company developed systems for processing and displaying low-latency market data using its TimeBase database and messaging middleware. Its work also included customer portals, user interfaces and outbound access to real-time pre- and post-trade information.
EPAM used the FIX standard with Simple Binary Encoding and secure WebSocket connections for real-time data delivery. The company also provided integration coordination, program governance and end-to-end testing.
“Operating in highly regulated, pan-European financial markets requires a delicate balance of disruptive technology and strict compliance,” Ben Brinkworth, EPAM’s vice president and head of financial services in Europe, said.
EuroCTP Chief Technology Officer Timo Pentner credited EPAM with delivering the cloud infrastructure, low-latency and web APIs, and customer portals supporting the service.
“Their team delivered the greenfield, cloud-native infrastructure behind the service, along with the low-latency and web APIs and portals our users access it through,” Pentner said.
The project positions EPAM’s financial-services engineering business inside a new piece of European market-data infrastructure designed to provide investors with a centralized view of trading activity across the region.
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