Pico leverages the MapR Distribution in the demanding financial technology solutions environment to provide their clients with new and innovative solutions to support their business.
Pico, based in New York, is a financial technology services firm and agency-only broker dealer that provides technology solutions and market structure and regulatory expertise to diverse financial services clients. Pico’s clients include proprietary trading groups, market makers, asset managers, banks, broker dealers, hedge funds, technology vendors, and liquidity venues.
Pico has created a strategic and growing ecosystem of trading applications, market data, and analytic software providers within its hosted environment. Their financial technology managed services business spans 10 datacenters in North America and 4 in Europe. They process a significant amount of real-time order and execution data for its brokerage business and have developed solutions for risk management and regulatory reporting.
Increasing demand from clients for expanded data analytic capabilities and the growing volumes of data in use were some of the driving factors that led Pico to evaluate the underlying technology. In order to leverage a wide range of historic and current data, including market, transactional and informational sources, Pico needed a scalable and highly available data platform that could lower storage costs and also support its existing environment. Ultimately Pico was looking to offer new solutions that provide customers with many customized Hadoop offerings.
“The last few weeks of volatility in the global markets have generated record amounts of market, transactional, and informational sets of data,” explains Paul Cassell, Chief Information Officer at Pico Qualitative Trading. “Firms must be able to dynamically scale to address capacity while also seeking to gain competitive advantages from data mining. Many firms will need a technology solution capable of both. Pico looks to leverage MapR to assist in driving these services.”
Pico is using the MapR Distribution including Hadoop to build and enhance their customer solutions by expanding analytics capabilities on the data. They chose MapR because it matched their focus on innovation as well as its superior performance, scalability and flexibility.
Innovations support new offerings. “Pico is all about innovation and we believe that the MapR dedication to high availability, disaster recovery, security and full data protection are key components for us because these features fit in perfectly with our customer offerings,” says Cassell.
Using MapR, Pico can analyze massive amounts and types of data in real time; support accelerate the speed of analysis, while increasing data volume; and improve risk assessment by building sophisticated machine learning models. Due to the innovative architecture at the core of the MapR data platform, Pico is able to leverage the versatility of plug-and-play compatibility with Hadoop for additional data analysis and application capabilities.