BlackRock is extending its use of Panopticon’s real-time data visualisation solution with an enterprise licence to use the software across its internal applications and embed it in client-facing applications, increasing the volume of data that can be viewed in real-time and decreasing the risk associated with high volume, high velocity data.
After considering data visualisation options in the market, Jeffrey Dean, director of high frequency data and analytics at BlackRock, says: “Panopticon is the only data visualisation vendor capable of supporting our requirements, which include the ability to visualise data from CEP engines, real-time message queues and tick databases, as well as from traditional relational data repositories.”
By licensing the enterprise version of Panopticon, BlackRock also has access to the Developer SDK for Java and .Net and the Rapid Development Kit that can be used to embed Panopticon data visualisations in its own enterprise applications. These include the company’s Aladdin Enterprise Investment System, a platform that combines risk analytics with portfolio management, trading and operations functions and is used internally at BlackRock and by 45 external clients through BlackRock Solutions.
BlackRock worked with Panopticon last year to install, prototype and integrate the data visualisation software and is now building out implementation projects that will deliver the best views for activities such as transaction cost analysis (TCA) and trading performance.
Richard Wilkinson, senior vice president Americas at Panopticon, says: “BlackRock epitomises the Big Data challenge in capital markets applications. Panopticon allows users to take massive quantities of tick, time series and trading data and quickly understand the performance of trading operations. Visualising TCA and real-time performance analytics provides insights where data volume and velocity previously drowned out exposure and opportunity alike. Users simply can’t wait for reports to be generated, they need up-to-date data in seconds.”
Considering the risk issues faced by organisations such as BlackRock, Wilkinson adds: “This is a two-pronged problem. One problem of big data is the risk around data velocity. Panopticon can provide real-time insight here. The problem of enterprise risk around data volume can also be handled by Panopticon as it can query vast data sources and provide real-time insights at macro and individual position levels.”
BlackRock is a large client for Panopticon, but not its only OEM with vendor partners including Portware, Tbricks, Thomson Reuters and Imagine Software, and financial services partners including Citigroup. Looking forward, Wilkinson expects this ecosystem to expand, along with connectivity to more third-party vendor systems. Short term, expect to see a tablet, including iPad, version of Panopticon before the close of the second quarter.