Barchart CEO Mark Haraburda talks about recent trends in the market data industry

The latest edition of the FIA ​​Expo 2022, which will take place on November 14 and 15 at the Sheraton Grand Chicago Riverwalk, aims to bring together the brightest minds in the listed derivatives industry, investors, media, regulators and fans of online trading, all in one place. the ceiling.

In an exclusive interview with FinanceFeeds, Mark Haraburda, CEO of Barchart discussed recent advancements in the company’s product suite. He also highlighted why they were so eager to attend this expo each year, as participants have the opportunity to discuss and exchange ideas with industry experts on the latest trends and developments in futures and options trading.

FinanceFeeds Editor-in-Chief Nikolai Isayev asked Mr. Haraburda about his recent association with Money.net. This leading provider of data and analytics platforms has selected Barchart to power its retail and professional products with streaming and historical market data. Nikolai has specifically quoted Money.net as saying that they strongly believe that Barchart is “the gold standard” for excellence in the highly competitive market data space.

Barchart size is an advantage

Well, it is a great honor to hear that, said Haraburda. The CEO further explains that he classifies Barchart as a medium-sized market data provider serving a wide range of clients, from large Fortune 500s to start-ups.

Barchart’s size, he says, is an advantage, allowing them to adapt, handle changes and upgrades more easily than larger organizations. It’s easier to push new ideas and execute on them, helping you capitalize on opportunities.

“That gives us the opportunity to really compete with both the big data providers and the smaller competitors. We have created a good space to exist and grow, where we serve clients that are in both categories. Sometimes it’s harder to break into larger corporations with legacy solutions, but once we do, we tend to grow very well with them and they keep coming back to us to do business. These companies value our deep understanding of market data, technology, and our ability to execute on time and on budget.”

Delving into the details of Barchart’s offering, Haraburda noted that they have long reaped the benefits of cloud computing, including scalability, faster development speed and lower fixed upfront costs.

However, Haraburda explained that while the company embraces the cloud, it also maintains a physical data center for specific customer needs. Having a physical presence and a cloud-based environment gives her clients the benefit of both models, she says.

“Taking a cloud-based approach helped us adapt and move with new technologies faster. We’re never stuck with a lot of legacy infrastructure, so when you move to the cloud, you can get things done quickly. But the key point is that we own and build our own software. And we’re fully vertically integrated from our connectivity to exchanges and our feed controllers, to our APIs and applications. So that has given us quite a bit of experience.”

An interesting topic we discussed with Mark Haraburda was how does Barchart balance the retail and institutional verticals?

‎“Well, a lot of people know Barchart.com as a financial media platform. And that’s our retail side. Login there as an individual user to search for quotes, charts and market news. Use financial tools like filters and watchlists, or set up alerts. However, what happens is that we want to make sure that the people who visit Barchart.com also understand the solutions we have for businesses. And that’s the institutional side of our business, data and software solutions, which is a little bit bigger than the retail side.”

Haraburda further explained how Barchart.com has expanded dramatically over the past 25 years when it began as a charting and technical analysis website, and has since evolved into a financial portal with a worldwide community of users ranging from small investors even institutional users.

“If you came back 15 years ago, we had no news. I would go to Barchart.com to look up quotes or get analysis, but there was no news content. So we started aggregating major sources like AP, then we built relationships with other news wires to add more information that was relevant to our users. We also expanded the markets we covered, such as expanding into Europe and Australia.”

Now, Haraburda continues, its retail service diversification covers everything from news and charts to financial tools like option filters and alert services.

“As we became a larger and slightly more mainstream financial media platform, it became clear that we needed to produce some of our own content that we could also distribute to news aggregators like Google News. We continue to add more and more of our own news content, covering stocks, options, commodities and other topics.”

Haraburda also noted that Barchart has become a leader in commodity data and technology trusted by more than 600 agribusinesses representing more than 2,000 grain facilities. As he states, Barchart’s producer (farmer) oriented mobile apps connect grain producers and buyers to unlock greater efficiencies for agribusiness and grain trading workflows. Haraburda shared that commodity markets and commodity data have always been a core component of his business given his roots in Chicago.

Barchart’s ecosystem for the agricultural industry includes a trading and analytics platform for commodities and a recent innovation that enables agribusinesses to automate the hedging of physical grains. More broadly, supply is connected throughout the grain supply chain, including farmers who can submit offers via Barchart’s elevator-branded mobile apps, as well as grain accounting providers. and ERP to manage contracts, tickets and positions; and to futures brokerage firms and execution and clearing exchanges.

We also asked Haraburda if there is a large variation in the price of market data among wholesale market data buyers.

A recent study found that these inconsistencies continue in industry pricing, posing significant challenges for market data consumers who need to navigate the lack of transparency around pricing and the availability of viable alternatives.

Haraburda explained that Barchart’s pricing is based on many different factors ranging from the frequency of required market data, such as real-time, end-of-day, or historical, to the required markets, delivery and connectivity options, to the use case.

“We have customers in many different industries, from commodities to financial, retail and professional services. The way that people and companies want to connect to or consume market data can differ greatly. Also, the data you need differs, whether it’s low latency, real-time, delayed, or historical. That affects our prices. We are a flexible and easy-to-work firm, our clients like that.”

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