MayStreet, the market data platform, announced that it has taken over the role of market data provider, previously held by Thesys Technologies, for the U.S. Securities and Exchange Commission’s (SEC) Market Information Data Analytics System (MIDAS). This selection brings the company closer to its mission of bringing the speed and integrity of such systems to the industry as a whole through its platform.
The SEC has transferred the vendor contract by novation from the previous provider, Thesys Technologies, as part of MayStreet’s acquisition of Thesys’ business unit that operates MIDAS.
Patrick Flannery
We are thrilled to be taking over the MIDAS system for the SEC,” said Patrick Flannery, CEO and Co-Founder at MayStreet. “This is a huge validation of our vision to build and deliver a next-generation market data platform for modern capital markets, and we’re excited to be entrusted by the SEC with responsibility for such a mission-critical system.
In the initial phase of the transition, MayStreet will implement its proprietary data packet capture technology. All existing MIDAS data transformation, cloud storage and client access technology will be retained in the short- to middle-term to ensure a smooth transition of the MIDAS system to MayStreet.
The SEC’s MIDAS platform combines advanced technologies and empirical data to enable the Commission to better monitor and understand short- and long-term market trends and achieve dramatically better insight into the functioning of the capital markets.
MayStreet was founded in 2012 and provides the only market data platform that delivers both real-time and instant intraday historical data through a single API – supporting firm-wide workflows, from trade execution and surveillance to instant market analysis, end-of-day reporting, historical back testing, and more.