FOREX TECHNOLOGY
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Messaging Middleware Data transformation and integration technology - or middleware - is widely used in the most challenging high volume industries - not just financial services - and is designed to process massively high transaction volumes in less than the blink of the eye.
Messaging middleware provides enterprise, web and mobile applications with a common set of interfaces that enable different devices and system components to send data back and forth. Tese feature rich messaging platforms typically offer a number of different ways for communications between critical services to take place. Tis might include both synchrounous and asynchrounous communications coupled with different standard message middleware paradigms such as publish/subscribe, message queues and peer to peer communications.
Paul Brant
“it’s the messaging foundation that delivers the content out to different channels, routes data around and filters content based on whether it’s important or not. And, it’s the messaging system that performs all this.”
Leveraging specialised solutions
Alessandro Alinone, joint CEO and CTO, Lightstreamer, a Milan-based technology provider of middleware messaging technology says, “Te unpredictability of the Internet in terms of latency and bandwidth performance, and reliability with respect to disconnections and security coupled with client technology spanning differing browser versions and web specifications means that FX trading firms should leverage specialised solutions for streaming real-time FX data across multiple FX trading venues and platforms.”
Lightstreamer is focused on providing a “higher level of abstraction over such unpredictability” according to Alinone, “exposing simple programming interfaces that hide the complexity of streaming data in a reliable way with high performance.” In a nutshell, Lightstreamer is typically added to any existing messaging solution such as JMS, TIBCO RV or others to extend the message delivery capability to the Internet and to Internet-based technologies. It delivers real-time data via the Internet, from the servers of banks and/or other financial services institutions to end-user machines.
Alinone adds: “Te separation of concerns between the application logic and the Internet transport management results in a more robust architecture, higher performance, and lower maintenance costs.”
124 | october 2011 e-FOREX
Companies in the messaging middleware arena are “evolving quickly” in response to the ever-changing needs of their financial services clients, notes McDaid. He says: “While constantly striving to drive down end-to-end system latencies through innovative message distribution techniques and streamlining ‘over-the-wire’ payload design, vendors must also ensure that the human latency required to implement and enhance applications built on top of their systems is kept to an absolute minimum.”
Eddie McDaid “Regardless of the location and choice of end-user
technology, the challenge facing FX dealing platforms is to provide the same levels of functionality, service and user experience that are consistent across all delivery channels.”
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