Open Source in High-Performance Trading Systems
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Transcript of Open Source in High-Performance Trading Systems
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Open Source in High-Performance Trading Systems
Anthony Gold
VP & GM
Unisys Corporation
Michael Wheeler
Partner, Finance Officer
Redmayne-Bentley
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Proprietary & Confidential
Open Source Impact
Gartner/Dataquest (May, 2006)
$87b
Total SW Revenue (includes Prof Srvcs)
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Proprietary & Confidential
Lots of Innovation – Very little organization
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Strategic Fit Enterprise Support
Two main inhibitors to more rapid adoption
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Red Hat Novell SourceForge
Linux. Wall Street.
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Wikipedia
Mass Collaboration is changing the world.
Goldcorp Linux
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Proprietary & Confidential Page 7
The Architecture of Participation2000 - Web 1.0 2007- Web 2.0
Source: O’Reilly and Unisys Research
DoubleClick
Ofoto
Akamai
MP3.com
Britannica Online
Personal Websites
Evite
Net2Phone
Page Views
Screen Scraping
Publishing
Content Mgmnt Systems
Directories (taxonomy)
Stickiness
Google AdSense
Flickr
BitTorrent, LImewire
iTunes (audio & video)
Wikipedia
Blogging
Upcoming.org and EVDB
Skype
Cost per Click
Web Services
Participation (MySpace, YouTube)
Wikis
Tagging (“folksonomy”)
Personalized Syndication (RSS)
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Proprietary & Confidential
Conscious unconsciousness Pay attention to “Gorilla Markets”
Sustained Inattentional Blindness forDynamic Events
http://viscog.beckman.uiuc.edu/grafs/demos/15.html
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Proprietary & Confidential
70% of IT budget spent on Maintenance IT Budgets declining How to innovate?
Open Source in Financial Services=== Challenges ===
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Proprietary & Confidential
Lowering costs Modernizing applications Improving organizational efficiencies
Open Source in Financial Services=== What Open Source Offers ===
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Enterprise/Application Modernization
Service-Oriented Infrastructure
Service-Oriented Middleware
VirtualizationAutomation
Consolidation
Sensors
Web 2.0 Internet
Self-Service Apps
Enterprise Apps
Service-Oriented Presentation
Software as a ServiceApplication Hosting and Outsourcing
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Proprietary & Confidential Page 12
Customer Experience is “Portalized” Multi-channel Portals are mainstream in the Web 2.0
Portals: the critical interaction point for the enterprise
Access to all enterprise applications/DBs From all operating systems To all channels – Brick, Web, Mobile
Portals have created a user interaction model for SOA
Standardized security Standardized user interface
Portals are windows into services on the network and back-office applications
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Proprietary & Confidential
The bad/ugly: LZW The good:
ES7000 – Linux (DP, MPIO, 5 9’s, 4x-32x, Guinness)
JBoss and others (OASIS, App Defender) Systems Integration (migration, modernization,
SOA)
What has Unisys been doing with Open Source?
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Avg. Fortune 500 company has over 48 different financial systems.*
Integrate business processes with IT services
Reference Article at ESJ
Services Oriented Architecture (SOA)
*Bloor Research, March 2006
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Application Modernization Discovery is the First Step
• Identify assets
• Map to business processes
• Build models
• Determine SOA opportunities
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Next Gen Messaging Solution
Other network
components(integration
points)
Content
Provisioning
Postpaidbilling
Prepaidbilling
CustomerCare
OAM
Call Control Layer
Presentation Layer
Application Layer
Data Access Layer
Storage Layer
Directory Server
Messaging Server
Unisys Messaging Application Server
Unified Messaging
ProvisioningBilling
Cust. Care /Provisioning
Media Server
Notification Server
TTS ASR
SMTP / IMAP4 LDAP
VoiceXML HTML
SOAP
NAS
SMPP
Web Server
JavaBeans
MM7
MRCP
NotificationDistributor
HTTP
Video Messaging
VideoServer
Message Queue
Outdial
Network Access Layer
GSM/GPRS Internet
Fax Gateway
SS7 Gateway
Video Gateway
SMSCMMSCWAP
Gateway
SS7 SIP, H.323
SIP/RTP
HTTP
Disk MySQL
RedHat / JBOSS / Spring /
Hibernate
Struts Sitemesh
NIST (SIP)
JGroups
Apache
JMS / JBPM
RDBMS Server
SQL
MX4J
EMC
Voice Genie / DCL BrookTrout
DCLDCL
TietoEnator
Partners
Open SourceRadvision
Scansoft / Telisma
HPOV / NetIQ
Cisco
Nokia
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Open Solutions Alliance
Non-Profit (501c6 – same as Eclipse) Interoperability Standards Reference Architectures and Case
Studies Community Awareness Complete Transparency
http://www.opensolutionsalliance.org
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Proprietary & Confidential
Largest non-bank financial services in Hong Kong
New securities trading system
Order mgmnt, trade mgmnt, clearing, settlement, risk management, etc.
Sun Hung Kai FS
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Redmayne-Bentley
Michael Wheeler
Partner/ Finance Officer
www.redmayne.co.uk
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Proprietary & Confidential
Background
Founded in 1875 Organisation Business – modernised traditional
Franchise operation – organic growth
Our approach (personal touch, relationships, quality of service …)
All Rights Reserved to Redmayne-Bentley Stockbrokers. Created 2007. Authorized and Regulated by the Financial Services Authority.
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Proprietary & Confidential
Locations
LEEDS – Head OfficeLondon (3 locations)Bromley GlasgowHenleyYorkMiddlesbroughBrightonTorquayShrewsburyPerth and 22 others
All Rights Reserved to Redmayne-Bentley Stockbrokers. Created 2007. Authorized and Regulated by the Financial Services Authority.
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Proprietary & Confidential
Third party Users
Same system used by:
Pilling & Co. (Manchester) M D Barnard (London) Ramsey Crookall (Isle of Man)
Supported by Unisys and our COBOL team
All Rights Reserved to Redmayne-Bentley Stockbrokers. Created 2007. Authorized and Regulated by the Financial Services Authority.
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Proprietary & Confidential
Key drivers:
For the business (e.g. FSA, in-house COBOL development, legacy code)
For change ( Hardware replacement cycle & end of SCO Unixware support )
Risk mitigation: Unisys support for SLES 9+
Business critical application
~ NO system = NO business!
Failover Clustering / Business continuity
All Rights Reserved to Redmayne-Bentley Stockbrokers. Created 2007. Authorized and Regulated by the Financial Services Authority.
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Proprietary & Confidential
Outline of the project
New Hardware installed (ES7000 in 3 locations) Application moved and re-configured
Some changes required to external interface code
Parallel operation ‘Legacy’ compatibility issues solved
Strong testing pre and post
Switch over: Point of no Return
All Rights Reserved to Redmayne-Bentley Stockbrokers. Created 2007. Authorized and Regulated by the Financial Services Authority.
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It Works!
All Rights Reserved to Redmayne-Bentley Stockbrokers. Created 2007. Authorized and Regulated by the Financial Services Authority.
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Business Impact / Benefits (1)
Business depends on the application
Interoperability with other software
Maintain high SLA (in-house & external) 10-fold performance improvement
Overnight processing from 13 hours to 1.5 Clustering: modern, reliable and open source
Contd…
All Rights Reserved to Redmayne-Bentley Stockbrokers. Created 2007. Authorized and Regulated by the Financial Services Authority.
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Business Impact / Benefits (2)
Valuations available at start of business day
Growth – improve the service
Extensions to the system: XML exports SQL Functionality Document management
Cope with Future changes Business continuity: an extra layer
All Rights Reserved to Redmayne-Bentley Stockbrokers. Created 2007. Authorized and Regulated by the Financial Services Authority.
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Any questions?
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Blog: http://AnthonyGold.blogspot.com
SOA article: http://www.esj.com/news/print.aspx?editorialsId=2515
For copies, send an email to: [email protected]
Thank You!