BNY ConvergEx implements StreamBase CEP platform

Source: StreamBase Systems

StreamBase Systems, Inc., a leading provider of complex event processing software (CEP), today announced that BNY ConvergEx Group, LLC, a leading provider of global agency brokerage and investment technology solutions, has deployed the StreamBase CEP platform for their U.S. based electronic trading operations.

The StreamBase stream processing engine provides real-time monitoring for BNY ConvergEx's U.S. electronic trading infrastructure, which includes its dark liquidity pool VortEx, market interaction monitoring, routing, trading operations analysis, credit risk correlation, system health monitoring and real-time analysis of market feeds for latency and response time.

"The implementation of StreamBase allows us to monitor our risk, make routing decisions, and assess the health of our entire U.S. trading operations in real-time," said Joseph Weisbord, Managing Director, BNY ConvergEx Group.

BNY ConvergEx uses StreamBase Studio, a graphical event flow modeling environment, to rapidly design, test, deploy, and sustain their system. BNY ConvergEx also uses the StreamBase Event Processing engine to apply risk models and latency measurement in real-time. The system monitors latency with multiple electronic trading venues. If one fails to respond with expected latency, StreamBase helps BNY ConvergEx proactively address technical issues, correlate and understand risk profiles, alert trading operations staff or adjust routing decisions for trading.

"There are three primary reasons StreamBase impresses me," continued Weisbord. "First, time to market is key in financial services, and the StreamBase Studio environment allows us to get to market quickly with very little coding. Second, StreamBase meets the high-performance demands of Wall Street - it can handle large amounts of data, quickly. Finally, its multi-threaded architecture makes it very efficient - so StreamBase scales smoothly as the volumes in the market grow - it helps future-proof our trading infrastructure."

"The breadth and depth of the BNY ConvergEx deployment of StreamBase shows that CEP is moving into broad enterprise deployment," said Mark Palmer, CEO of StreamBase. "While many applications embed CEP-like functionality, BNY ConvergEx shows the applicability of a CEP platform beyond point algorithmic tmic trading applications - to risk, order routing, and technology infrastructure for trading operations and dark pool execution."

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