BNY ConvergEx Group, LLC, a provider of global agency brokerage and investment technology applications, has deployed the StreamBase CEP platform for their US based electronic trading operations.
The StreamBase stream processing engine provides real-time monitoring for BNY ConvergExs US electronic trading infrastructure, which includes its dark liquidity pool VortExSM, market interaction monitoring, routing, trading operations analysis, credit risk correlation, system health monitoring and real-time analysis of market feeds for latency and response time.
“The implementation of StreamBase allows us to monitor our risk, make routing decisions, and assess the health of our entire U.S. trading operations in real-time,” says Joseph Weisbord, managing director, BNY ConvergEx Group.
BNY ConvergEx uses StreamBase Studio, a graphical event flow modeling environment, to rapidly design, test, deploy, and sustain their system. BNY ConvergEx also uses the StreamBase Event Processing engine to apply risk models and latency measurement in real-time. The system monitors latency with multiple electronic trading venues. If one fails to respond with expected latency, StreamBase helps BNY ConvergEx proactively address technical issues, correlate and understand risk profiles, alert trading operations staff or adjust routing decisions for trading.
“There are three primary reasons StreamBase impresses me,” says Weisbord. “First, time to market is key in financial services, and the StreamBase Studio environment allows us to get to market quickly with very little coding. Second, StreamBase meets the high-performance demands of Wall Street it can handle large amounts of data, quickly. Finally, its multi-threaded architecture makes it very efficient so StreamBase scales smoothly as the volumes in the market grow it helps future-proof our trading infrastructure.”
“The breadth and depth of the BNY ConvergEx deployment of StreamBase shows that CEP is moving into broad enterprise deployment,” says Mark Palmer, CEO of StreamBase. “While many applications embed CEP-like functionality, BNY ConvergEx shows the applicability of a CEP platform beyond point algorithmic trading applications – to risk, order routing, and technology infrastructure for trading operations and dark pool execution.”
D.C.