OFMP: the road to OSGi Eclipse Democamp Luxembourg 2008 Frederic Conrotte Covariance Luxembourg

Middle Office Financial Market Platform in Kaupthing Bank Luxembourg started in April 2006 Eclipse RCP / J2EE based on JBoss Prototype ready on October 2006 Implementation started on October 2006 First release on March 2007 for Forex Desk Second release on February 2008 for Money Market Desk Main features STP Front Office to Back Office workflow Treasury Coverage (Forex and Money Market Desks) Spot, Forward, Swaps products supported Deal Monitor, Profit and Loss, Position Keeping services CLS compliancy On-Demand Reporting Project background

Middle Office Financial Market Platform in Kaupthing Bank Luxembourg started in April 2006

Eclipse RCP / J2EE based on JBoss

Prototype ready on October 2006

Implementation started on October 2006

First release on March 2007 for Forex Desk

Second release on February 2008 for Money Market Desk

Reuters Dealing Front Office Mid Office Back Office EBS Bloomberg Flat files manual entries [other systems] Middle Office Financial Market Application (Foreign Exchange / Money Market / Capital Market) Back Office System Front to Back Workflow

Eclipse RCP for client side Eclipse Data Binding Equinox runtime J2EE services based on Spring/Spring DM framework Spring Security Spring IDE IBatis persistence framework RCML ( www.rcml.net ) JUnit tests suites Client notifications and STP workflow with JMS BIRT Report Engine Maven and m2eclipse Eclipse AspectJ Eclipse API Tooling Technology Behind

Eclipse RCP for client side

Eclipse Data Binding

Equinox runtime J2EE services based on Spring/Spring DM framework

Spring Security

Spring IDE

IBatis persistence framework

RCML ( www.rcml.net )

JUnit tests suites

Client notifications and STP workflow with JMS

BIRT Report Engine

Maven and m2eclipse

Eclipse AspectJ

Eclipse API Tooling

TIG : Captures trades from Front Office platforms, BackOffice or any other input trade provider. CDG: Provides contextual data like various Market Data TOG: Send processed trades to BackOffice, Risk Management platforms or any other system. Global Architecture

RCLM allows to express higher level DSL langages useful in several areas like testing, reports generation and UI databinding <doAuthenticateAs userName=&quot; fx -dealer&quot; /> <setBusinessDate date=&quot;03-09-2007 08:00&quot; init =&quot;true&quot; /> <addHoliday currency=&quot;USD&quot; date=&quot;10-09-2007&quot; /> <addHoliday currency=&quot;ISK&quot; date=&quot;13-09-2007&quot; /> <spotDeal id=&quot;spot01&quot;> <buySellIndicator value=&quot;BUY&quot; /><!-- BUY, SELL --> <negociatedPart currency=&quot;EUR&quot; amount=&quot;1000000.00&quot; /> <secondPart currency=&quot;USD&quot; amount=&quot;1350000.00&quot; /> <spotRate value=&quot;1.35&quot; /><!-- BigDecimal --> <rateDirection value=&quot;NORMAL&quot; /><!-- NORMAL, INVERSE --> <tradeDate value=&quot;03-09-2007&quot; /><!-- Date --> <valueDate value=&quot;05-09-2007&quot; /><!-- Date --> <counterpartyId value=&quot;9994&quot; /><!-- Integer --> <message><!-- String --> This is a test deal entered by RCML. </message> <source value=&quot;TOF&quot; /> </spotDeal> <assertFXSpotPosition portfolioURL=&quot;${fx_spot}&quot; currency=&quot;USD&quot; value=&quot;-1350000&quot; /> <assertFXSpotPosition portfolioURL=&quot;${fx_spot_sales}&quot; currency=&quot;USD&quot; value=&quot;-1350000&quot; /> <assertDealBook portfolioURL=&quot;${fx_spot}&quot; containDeals=&quot;spot01&quot; /> Rich Client Markup Language

Old architecture 1 single EAR deployed on JBoss exposing several stateless EJBs using RMI Pros: - Standard JEE services provided by JBoss Cons: - Production Server restart required to update a single service - Services interdependency management issues due to growing codebase. - System tend to be synchronous From EAR to OSGi

OSG – What? OSGi™: „A dynamic module system for Java“ OSGi Overview

OSGi™: „A dynamic module system for Java“

OSGi is … … a module system for Java that allows the definition of … Modules (called „bundles“), Visibility of the bundle contents (public-API vs. private-API) Dependencies between modules Versions of modules OSGi Overview

… a module system for Java that allows the definition of …

Modules (called „bundles“),

Visibility of the bundle contents (public-API vs. private-API)

Dependencies between modules

Versions of modules

… dynamic Bundles can be installed, started, stopped, uninstalled and updated at runtime OSGi is … OSGi Overview

… dynamic

Bundles can be installed, started, stopped, uninstalled and updated at runtime

OSGi is … … service oriented Bundles can publish services (dynamically) Bundles can find and bind to services through a service registry The runtime allows services to appear and disappear at runtime OSGi Overview

… service oriented

Bundles can publish services (dynamically)

Bundles can find and bind to services through a service registry

The runtime allows services to appear and disappear at runtime

What does OSGi look like? (Low Level) OSGi Overview

New architecture Multiple OSGi bundles defining a single group of related services using Spring DM and exposing them thru Spring HTTPInvoker Pros: - True hot services upgrade - Services status management improved - Asynchronous communication/separation of concerns - Improve modules dependency design Cons: - OSGi is great, but tooling is not quite there yet: JAR to OSGi bundle automated conversion using BND tool; Service querying, Runtime visualisation - Lack of properly OSGified JARs => Thanks SpringSource - Strict import/export versioning discipline required - Number of bundles quickly reach more than 100 or 200 => distributed runtimes coming in next OSGi spec 4.2 From EAR to OSGi

JAR to OSGi bundle automated conversion using BND tool; Service querying, Runtime visualisation

Current Status Maven External Dependencies management infrastructure OSGi based standard JEE services Datasources Transaction Management JMS Logging Security Spring DM Integration Testing Framework Currency bundle migrated including Unit and Integration Tests Goal to release to full set of OSGified bundles by end of year IP Issues Move under umbrella of Eclipse Financial Project

Maven External Dependencies management infrastructure

OSGi based standard JEE services

Datasources

Transaction Management

JMS

Logging

Security

Spring DM Integration Testing Framework

Currency bundle migrated including Unit and Integration Tests

Goal to release to full set of OSGified bundles by end of year

IP Issues

Move under umbrella of Eclipse Financial Project

Future plan – Technical level FPML (fpml.org) Data Structure Replace iBatis with EclipseLink for modular persistency support Asynchronous inter modules communication using Enterprise Integration Pattern solutions like Apache Camel

FPML (fpml.org) Data Structure

Replace iBatis with EclipseLink for modular persistency support

Asynchronous inter modules communication using Enterprise Integration Pattern solutions like Apache Camel

Asset/Liability Management (ALM) The ALM is a set of tools that allow to the bank management to: - Reach return’s objectives - Manage their liquidity risk - Manage their interest rate risk - Stress test their balance sheet - Meet Basle II requirement  Will become essential in banks regarding to the current events T rader books, Limits management, Reports Set Treasury products (TRS, currency options, IRS, ...) Enhancement of Derivative products coverage : Swaps structures, CFDs, structured products Future plan – Business level

Asset/Liability Management (ALM)

T rader books, Limits management, Reports Set

Treasury products (TRS, currency options, IRS, ...)

Enhancement of Derivative products coverage :

More information Website: http://www.eclipse.org/ofmp Project wiki: http://wiki.eclipse.org/OFMP Eclipse OFMP Newsgroup Demos Foreign Exchange functionnalities Portfolio Management functionnalities Contacts: [email_address] Credits: Martin Lippert, akquinet agile GmbH [email_address]

Website: http://www.eclipse.org/ofmp

Project wiki: http://wiki.eclipse.org/OFMP

Eclipse OFMP Newsgroup

Foreign Exchange functionnalities

Portfolio Management functionnalities