After having sold the Kondor+ Suite to Misys, Thomson Reuters (TR) changed its position into a third-party vendor and technology provider. Since the consequent binding to Thomson Reuters as the only realtime market data vendor no longer exists, it is now possible to consume realtime market data via alternative vendors. Furthermore there is another issue with the current Kondor+ architecture, which is not solved to full satisfaction yet. Exchanges are requesting more often evidences, which user at which time consumed which data via Kondor+. This requires a permissioning on end user level. If that is not possible, as it is currently in Kondor+, the whole user base is considered fee-liable. The practice of the so called Honesty Statements to define the number of fee-liable users will no longer be accepted.
The current market data architecture of Kondor+ was characterised by the following limitations:
Since Kondor+ 3.3SP3 the market data supply is also possible using the central Misys component DRT alternatively. With version 3.4.3 released end of March 2016, this will even be a mandatory setup. The limitations of the previous architecture are largely solved.
Benefits of the new DRT architecture:
The DRT is a Windows component and is the bridge between the market data vendors and the different Misys applications, which are grouped under the Capital Markets Fusion Platform (Kondor+, Summit, Sophis, etc.). For Kondor+ customers, which are not planning to migrate to the new DRT architecture in the near future, Misys still offers the current market data supply with Thomson Reuters using the so called legacy mode, at least for the medium term.
Be GmbH adapted its services at an early stage towards this changed situation and offers the following services around this topic: