CLSA has selected TIBCO Enterprise Message Service as the platform on which it will build its next-generation global trading system.
CLSA is to renovate its global trading platform to support new automated trading methods and pave the way for future business growth.
Global trading volumes have increased by between 30 and 40% in recent years, resulting in a five-fold increase in the amount of messages handled driven primarily by the proliferation of algorithmic trading systems being used by its traders, according to T. Rajah, chief information officer, CLSA.
“The way we trade is changing and this is placing new technical demands on the trading platform. To meet these challenges and to prepare our business for expansion, we wanted to identify an enterprise messaging platform with the scalability, performance, low latency and high connectivity to handle both current and future trading systems,” says Rajah.
Another important consideration for CLSA in choosing a messaging solution was interoperability. Working within a multi-vendor environment, the bank needed a platform based on open standards, which could be integrated easily with existing assets.
“In our evaluation of the available messaging solutions, TIBCO’s standards-based platform proved the fastest and most reliable, and importantly offered class-leading real-time monitoring capabilities, which will enable us to identify and address problems faster. We were also impressed with their unparalleled experience working with investment banks to develop trading systems,” adds Rajah.
CLSA is currently also working with TIBCO to build a business activity monitoring system, which will support the bank’s entire operation from front to back office.