Red Hat (NYSE: RHT), the world's leading provider of open source solutions, today announced that Millennium Global Investments (MGI), a specialist in developing and managing alternative investment products for institutional investors, has selected JBoss Enterprise BRMS (Business Rules Management System) for its mission-critical business rules repository.
London-based MGI wanted to improve the flexibility of its compliance system so that its business and trade rules could be revised and adjusted rapidly within a managed environment. MGI selected JBoss Enterprise BRMS to bring business rules into a managed environment, standardise business rules and support the scalability of the business.
The transparency of the new repository enables MGI business users to gain access to detailed information about why certain rules may prevent trading. This access improves business users' efficiency and reduces the number of queries sent to MGI's IT organisation. The transparent business rules repository is also an essential part of MGI's risk management strategy
"Red Hat's flexible subscription terms for JBoss Enterprise Middleware allowed us to deploy only the components needed for the new platform and to avoid vendor lock-in. Unlike other vendors, Red Hat offers the ability to support other applications of the rules engine, be it market signal monitoring or algorithmic trading," said Richard Macaskill, managing director, IT & Systems Development, MGI. "We were very pleased with the level of support Red Hat provided during the new business rules repository's development. We are extremely satisfied to have deployed an integrated business rules platform that has improved our efficiency and ability to manage risk."
JBoss Enterprise Business Rules Management System (BRMS) is an open source business rules solution that enables easy business policy and rules development, access, and management. JBoss Enterprise BRMS allows customers to reduce development time to update applications and processes with the latest business rules and policies.
"We are delighted with the positive feedback from MGI on its deployment of JBoss Enterprise BRMS. We are seeing further momentum of JBoss Enterprise BRMS as the enterprise continues to drive innovation through open source middleware," said Pierre Fricke, Directoror, SSOA Products, Red Hat. "Automating business decisions with JBoss Enterprise BRMS can help a business run faster and enable business process stakeholders to rapidly implement change. This is the kind of agility that enterprise deployments demand in today's marketplace."