>>> Continued growth
According to a recently published report from Aite Group on CEP (‘Complex Event Processing: Beyond Capital Markets’, Nov. 2011), the Boston-based research firm, garnered responses from six leading CEP vendors including OneMarketData, Progress Software, StreamBase and Sybase.
Aite forecasts that expenditures on CEP will grow at CAGR at in excess of 15% per annum. Te firm also estimates that global spending for commercial CEP technology will hit $184m in 2013. CEP growth within capital markets was put at 64% in 2011.
Adam D. Honoré, author of this latest Aite study, stated: “We expect to see continued expansion of CEP well beyond capital markets. CEP is now quietly maturing into a must-have platform for real-time data needs.”
Adam Honoré
Aite found that in almost every discussion with CEP customers they were planning to expand internal usage of the technology. One financial services firm using CEP for FX price aggregation was considering possibly utilising it to provide smarter real-time risk capabilities, while another performing pre-trade risk with CEP was contemplating “multiple expansions”.
“We expect to see continued expansion of CEP well
beyond capital markets. CEP is now quietly maturing into a must-have platform for real-time data needs.”
higher performing and scalable analytics for market making. Tese analytics can monitor a multiplicity of sources - ECN’s and single banks - and re-post prices in short order. And, that’s pertinent in a global FX market where average daily turnover is
c.US$4trn.
Changing the FX business
Global Spending for Commercial CEP Technology. 2009 to e2013 (in US$ millions)
Nick Deacon, Sales Director (EMEA), Sybase, commenting on additional CEP use cases for its clients, says: “We’ll have newer clients where they maybe bringing in CEP for the first time, perhaps just to address a specific requirement within a particular project. However, for our larger clients and in particular the Tier-1 investment firms who have previous experience with our CEP products we now see it’s rollout across the organisations. Tis will span from the front to back office addressing areas such as market data management, analytics, risk management and compliance.”
CEP is a technology platform designed particularly to ingest so-called ‘Big Data’ with the ability to deliver
Louis Lovas, Director of Solutions at OneMarketData, LLC, a leader in tick data management and analytics, commenting on the ways that CEP technology is fundamentally changing the way the traditional FX business model operates, says: “Trading firms operate in a fiercely competitive industry where success is measured by profit. Tey’re constantly hunting for talent and technology to achieve that goal. CEP is a modern technology platform that firms are recognising is a key to ensure that success.”
Tis vendor offers a suite of solutions, including OneTick and OneQuantData. OneTick is a comprehensive business solution designed to fully address the market’s need for intra-day data collection, archiving, retrieval and analytics. Société Générale Corporate & Investment Banking (SocGenCIB) selected the OneTick Database and CEP in September 2011 as its fully integrated tick data management, analytics and CEP system for electronic foreign exchange (FX) trading. SocGenCIB’s FX division is
april 2012 e-FOREX | 97
Source: Aite Group estimates
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