Open Source in High-Performance Trading Systems

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  • 1. Open Source in High-Performance Trading Systems Anthony Gold VP & GM Unisys Corporation Michael Wheeler Partner, Finance Officer Redmayne-Bentley
  • 2. Open Source Impact Gartner/Dataquest (May, 2006) $87b Total SW Revenue (includes Prof Srvcs)
  • 3. Lots of Innovation – Very little organization
  • 4.
    • Strategic Fit
    • Enterprise Support
    Two main inhibitors to more rapid adoption
  • 5.
    • Red Hat
    • Novell
    • SourceForge
    Linux. Wall Street.
  • 6.
    • Wikipedia
    Mass Collaboration is changing the world.
    • Goldcorp
    • Linux
  • 7. The Architecture of Participation Page 2000 - 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)
  • 8.
    • Conscious unconsciousness
    • Pay attention to “Gorilla Markets”
    Sustained Inattentional Blindness for Dynamic Events http://viscog.beckman.uiuc.edu/grafs/demos/15.html
  • 9.
    • 70% of IT budget spent on Maintenance
    • IT Budgets declining
    • How to innovate?
    Open Source in Financial Services === Challenges ===
  • 10.
    • Lowering costs
    • Modernizing applications
    • Improving organizational efficiencies
    Open Source in Financial Services === What Open Source Offers ===
  • 11. Enterprise/Application Modernization Service-Oriented Middleware Virtualization Automation Consolidation Web 2.0 Internet Self-Service Apps Enterprise Apps Firewall Service-Oriented Presentation Software as a Service Application Hosting and Outsourcing Service-Oriented Infrastructure MOTE RFID Sensors Firewall
  • 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
    Page
  • 13.
    • 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?
  • 14.
    • 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
  • 15. Application Modernization Discovery is the First Step Page
    • Identify assets
    • Map to business processes
    • Build models
    • Determine SOA opportunities
  • 16. Next Gen Messaging Solution Other network components (integration points) Content Provisioning Postpaid billing Prepaid billing Customer Care OAM Call Control Layer Presentation Layer Application Layer Data Access Layer Storage Layer Directory Server Messaging Server Unisys Messaging Application Server Unified Messaging Provisioning Billing Cust. Care / Provisioning Notification Server TTS ASR SMTP / IMAP4 LDAP VoiceXML HTML SOAP NAS SMPP JavaBeans MM7 MRCP HTTP Video Messaging Message Queue Outdial Disk MySQL RedHat / JBOSS / Spring / Hibernate Struts Sitemesh NIST (SIP) JGroups Apache JMS / JBPM RDBMS Server SQL MX4J EMC Voice Genie / DCL BrookTrout DCL DCL TietoEnator Partners Open Source Radvision Scansoft / Telisma HPOV / NetIQ Cisco Nokia Media Server Web Server Notification Distributor Video Server Network Access Layer GSM/GPRS Internet Fax Gateway SS7 Gateway Video Gateway SMSC MMSC WAP Gateway SS7 SIP, H.323 SIP/RTP HTTP
  • 17. Open Solutions Alliance
    • Non-Profit (501c6 – same as Eclipse)
    • Interoperability Standards
    • Reference Architectures and Case Studies
    • Community Awareness
    • Complete Transparency
      • http://www.opensolutionsalliance.org
  • 18.
    • 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
  • 19. Michael Wheeler Partner/ Finance Officer Redmayne-Bentley www.redmayne.co.uk
  • 20. 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.
  • 21. Locations
    • LEEDS – Head Office
    • London (3 locations)
    • Bromley
    • Glasgow
    • Henley
    • York
    • Middlesbrough
    • Brighton
    • Torquay
    • Shrewsbury
    • Perth
    • and 22 others
    All Rights Reserved to Redmayne-Bentley Stockbrokers. Created 2007. Authorized and Regulated by the Financial Services Authority.
  • 22. 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.
  • 23. 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.
  • 24. 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.
  • 25. It Works! All Rights Reserved to Redmayne-Bentley Stockbrokers. Created 2007. Authorized and Regulated by the Financial Services Authority.
  • 26. 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.
  • 27. 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.
  • 28. Any questions?
  • 29. Thank You! Blog: http://AnthonyGold.blogspot.com SOA article: http://www.esj.com/news/print.aspx?editorialsId=2515 For copies, send an email to: [email_address]