Quant analytics: The reason why Opentick closed. Affordable Minute tick data will never be possible
These are the words of a high profile data provider who reached out to us today:
Infrastructural costs are fairly high for high performance storage, database, etc. We are currently budgeting $50k for phase one. I would like to charge $50 per month for the service which would provide real-time access to tick, 1,5,10,15,30,60 minute bars. Data would be provided through SDK and web service with json, etc. Controlling the historical data is a big issue and is probably what killed OpenTick. It's ok when someone downloads tick data for a few symbols and uses the data for its intended purpose. It's a different story when 100's of data hijackers start grabbing all of your history for all of the symbols. Unfortunately tick data is hugely valuable and expensive to get so when someone offers it for a cheap price the results can be worse than a 90% off sale at a department store - complete chaos...FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!