BEA and Lab49 deliver framework for developing front office trading apps
15 January 2008 | 2416 views | 0
BEA has teamed with Lab 49 and Intel to build a complete complex event processing application infrastructure designed to integrate analytics and proprietary intellectual property without introducing latency. The framework incorporates BEA Weblogic Event Server and a visually compelling Windows Presentation Foundation (WPF) client application.
The framework is designed to address key challenges in today's front office in capital markets, such as scalability, low latency, high-throughput, flexibility and high performance together with resiliency.
Building on a deep understanding of the BEA Weblogic Event Server's micro-architecture and its array of features, Lab49 has created a reference architecture demonstrating the real-time pricing of a portfolio of fixed income instruments. Through a visually compelling Windows Presentation Foundation (WPF) client application, the demo illustrates how the BEA WebLogic Event Server can model and process large volumes of complex events and perform pricing and risk computations using the proprietary analytics.
"With BEA's robust and extreme high performance infrastructure capabilities and Lab49's industry expertise in delivering sophisticated financial applications, we are delivering a comprehensive framework for complex event processing (CEP) applications for the front office," said John Knightly, vice president of industry marketing at BEA Systems. "This new framework is designed to provide a high performance event-processing infrastructure that minimizes processing latency, allow developers to focus on delivering new and innovative business functionality and reduce the overall cost and time to market."
"Often, algorithmic trading is cited as the main use case for CEP," said Luke Flemmer, co-founder at Lab49. "However, at Lab49 we see a broader spectrum of use cases, all of which are ultimately part of the end to end solution for the front office. This is why we're excited to partner with BEA, who is helping support innovation and developing next generation technology that can help financial services organisations more quickly adapt to changing market conditions."
The core components of the BEA-Lab49 framework demonstrate:
• Integration techniques to a variety of thick client and rich internet application applications such as WPF, Silverlight, Flex, WPhtex, WPht, Flex, WPF, Silverlight, Flex, Java amongst others.
• Integration techniques to proprietary C/C++ analytic libraries
• Modelling front office applications as flexible complex event processing networks
• A design pattern for building flexible trading applications that can react to changes in the market during the day
The framework, tested on the Quad-Core Intel Xeon 5400 Series Processors, achieved results of one million events per second at microsecond latencies, performance previously unachievable with standard Java. The core components of the framework are based on the technology jointly developed and optimised by Intel and BEA.
"Low latency and high rates of streaming data are critical for event driven applications in the front office and we are pleased with the performance results that BEA and Intel has achieved," said Nigel Woodward, financial services director at Intel. "Now with a framework in place for the real-time front office, financial services customers can realize the potential for complex event processing to help ease data proliferation in the enterprise, increase predictability of business drivers and help them become more agile and competitive."