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Order Management Systems

 

Achieving high performance in the capital markets industry has never been more challenging. Increasing system complexities brought on by regulatory compliance and evolving electronic trading systems require a more sophisticated set of tools and developer skill sets. Addressing these challenges in today’s rapidly changing environment requires a fresh perspective on the problems and a reliable, distributed computing platform for building collaborative data processing systems.

Financial Application Engine   

Order management and execution systems are used by both buy-side and sell-side firms to facilitate input, update and cancel of orders (trades) in addition to routing such in-flight data between member firms or partner exchanges.

The Service Application Engine™ is a scalable, high-performance infrastructure for caching and exchange of structured data between applications. OMS developers can take advantage of the engine's unique features to provide real-time analytics and governance of in-flight data. The StreamScape solution unifies event stream processing and structured data management providing an integrated, cost-effective approach for development of order management systems and exchange connectivity components.

At the heart of the application engine is the Service Event Fabric™, a self organizing event cloud capable of hosting structured data and application logic.  The fabric is responsible for providing adaptive peer-to-peer communication facilities, participant views, discovery and end-point governance.  Users may develop low-latency, networked applications without a central message broker or the need to use and manage numerous communication endpoints, eliminating the most time consuming and error prone aspects of messaging application development.

Key Platform Features

The Service Application Engine™  runtime may function as an independent container for service logic or may be embedded as a runtime context into Java programs turning such applications into full-functioning fabric nodes. A centralized configuration directory allows for ad hoc, user-defined topologies.

Additionally the environment provides a robust set of facilities for indexing, persistence and object serialization allowing participants to exchange data in a language-neutral format such as XML and JSON.

Key features include:

  • A peer-to-peer communication fabric with flexible flow control capabilities allows participants to engage in reliable, low-latency data exchange.
  • The moderator interface provides a way to query system participants, their role and intent as well as the format of data being exchanged.
  • A fully embeddable, high-performance messaging system that uses Content-Based Addressing to route data between participants.
  • Flexible, high-performance data serialization into a variety of formats allows developers to create optimized data transformation and protocol decoder components.
  • Configurable last value cache allows participants to initialize application state or receive missed information by electing to receive cached event data.
  • Optimized selector-based routing provides a way for users to filter events by their content using SQL-like syntax without significant impact on performance.
  • Web and streaming HTTP protocol support allows users to build event-driven, composite web applications that may be massively clustered for performance and scalability.
  • XMPP protocol support provides a messaging platform that integrates real-time collaboration tools and presence capabilities into the solution's architecture.
  • A high-performance, in-memory data collection (dataspace) supports ANSI SQL query as well as the data collection API and provides multiple cache models such as queue, map or table.
  • Application Data Spaces™ are fully transactional, capable of coordinating operations across multiple space instances within the same runtime context.
  • Event triggers may be defined on data modification operations such as en-queue, put, insert or update, using EDL (Event Definition Language), making data changes visible to event consumer applications.
  • May be deployed as a library or embedded JDBC driver within any Java application.
  • Integrated security allows developers to lock down data collections and communication channels across the entire domain (sysplex).