algoseek
When Developers and Mathletes Fuse with Wall St.

In this digital age, from the towering titans of investment banks to those nimble, trendy fintech startups, the tune is the same: “Why is managing high-quality data like herding a thousand cats?” But there’s a silver lining: Algoseek. Spotted by our keen-eyed CIOReview team, this data dynamo is setting new standards, and the traditional data bigwigs might just want to take notes. They’re not just offering top-tier, comprehensive market data — that’s just their warm-up act. They’re also rolling out a lightning-fast proprietary database, turbocharged automated data pipelines, and tools that’ll make data-wranglers dance with joy. And the price? It might just make you do a happy double-take.

Started as a spinoff from a high frequency trading fund, Algoseek had a clear mission from day one: to provide the best market data for their fellow quants. Forget those simple minute bars with just a handful of columns like OHLC, volume and VWAP. Algoseek’s U.S. equity minute bar, packed with over a hundred data points, dives deep into market dynamics and microstructure. As their data arm expands to encompass reference data, fundamentals, news and more, their commitment to quality remains steadfast.

From Restful API and WebSocket - at prices that’ll make competitors wince - to co-location feeds operating with microsecond-level latency, Algoseek addresses realtime data demands with versatile access technology and latency profiles tailored to a diverse clientele and budget range. Their ultra-low-latency clients include major banks, trading funds and prominent market makers. They create custom realtime feeds for clients as well, as they aptly state, “Switching data sources and formats risks breaking algorithms. We provide our clients with a single source of truth from backtesting to live trading.”

However, Algoseek’s narrative extends beyond merely being a data vendor. This emerging company also developed a proprietary database, and is a front-runner in helping its clients source, onboard and manage data.

Their proprietary cloud database, ArdaDB, sets out to conquer the “database impossible triangle” of speed, size, and costs. It allows clients to access common data from shared read-only storage while keep private data in private storage. The shared storage is updated in realtime, and the updated schema is pushed to clients’ database servers. At its core, ArdaDB is based on open-source ClickHouse, the fastest data warehouse, so it runs at lightning speed. The numbers talk: Since migrating from SingleStore to ArdaDB, one retail trading platform saw its monthly database expense plummet from over $13,000 to mere $2,000 without any compromise on performance.

Their automatic data pipelines collect data from diverse sources, normalizing, quality-checking and monitoring, transforming, and dispatching it to designated destinations. Be it AWS, Azure, Google Cloud, or Snowflake, name your destination, and Algoseek ensures your data reaches you where and when you need it.

We are a team of developers and mathletes eager to transform the clunky, inefficient financial data sector with technology and provide value to our clients

During our interview with Algoseek, they mentioned a whopping 70% of their support team holds PhDs. When asked about this ‘brainpower overload’, it was unveiled that they rotate developers and data scientists into support roles. Chris, the CEO, encapsulated their ethos: “Technology is our brain, and service is our heart.”

“At the end of day, we are a team of nerdy developers and mathletes eager to transform the clunky, inefficient financial data sector with technology and provide value to our clients.” Chris summarized.