MayStreet, a market data platform, has assumed the role of market data provider for the US Securities and Exchange Commission’s (SEC) Market Information Data Analytics System (MIDAS).
The SEC has transferred the vendor contract by novation from the previous provider, Thesys Technologies, following MayStreet’s acquisition of Thesys’ business unit that operates MIDAS.
The SEC’s MIDAS platform combines advanced technologies and empirical data to enable the Commission to monitor and understand short and long-term market trends and achieve dramatically better insight into the functioning of the capital markets.
“We are thrilled to be taking over the MIDAS system for the SEC,” says 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.”
MayStreet will provide the SEC all US equities, options and futures data as it relates to MIDAS. 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.