Brazilian exchange operator BM&FBovespa is to implement complex event processing technology from Streambase to build a dynamic fleet of real-time, low-latency data applications.
The exchange, the largest in Latin America, says it will integrate the technology across its trading platform to push out new real-time applications to clients through the CME Globex interface.
Marcio Castro, chief technology officer of BM&FBovespa, says: "StreamBase's high-performance multi-threaded event server and visual development studio enable us to rapidly roll out sophisticated models that react to changing market conditions."
Streambase chief Mark Palmer says the exchange's commitment to CEP isn't for an algo trading app or two, describing that as "the first generation of CEP use in Brazil".
"Bovespa shows that CEP is becoming an essential platform for applications of all types, from front to back office," he says. "In trading, tasks that used to be performed at the end of the day, like risk management, are now performed during the day - in real-time. BM&FBovespa's move shows that the static platforms of the past are being augmented by the event-based platforms of the future."