StreamBase Systems, a leading provider of Complex Event Processing (CEP) technology, today announced that City Index, a London-based global leader in Contracts for Differences (CFDs), margined foreign exchange, and spread betting has selected the StreamBase Complex Event Processing as their enterprise CEP platform.
City Index offers investors real-time access to prices on markets around the world and flexible ways to trade on price movements in financial markets including equities, indices, currencies, commodities and interest rates. StreamBase will be used by City Index initially to develop pricing applications that lie at the heart of their spread betting infrastructure.
"We evaluated both CEP platforms and specific off the shelf products in looking for a solution that offered rapid time to market, high performance and ease-of-use for our pricing applications," said Toby Young, CTO at City Index. "Our team found that StreamBase combines the best of both worlds - we can deliver just as quickly as with an off the shelf product, but with StreamBase we have full control over the functionality and the flexibility to extend its use into other areas of our production environment. Our choice was cemented by the excellent performance of the StreamBase engine. This, together with the time to market and control that StreamBase provides, is a winning formula".
"We've been proud for a long time that our development environment makes us the easiest to use CEP platform, but City Index illustrates that the usability of StreamBase Studio is taking it to another level - firms like City Index are beginning to compare the speed of deployment of StreamBase applications to the speed of deployment previously only ascribed to packaged applications," said Mark Palmer, CEO of StreamBase. "This unique combination - speed to market and speed of the resulting applications - is why StreamBase continues to get the nod whenever critical CEP selections are made by customers."