Accounting and Financial Software
StreamBase Systems Addresses Distortion and Hysteria in U.S. and International Markets Caused by Failing Legacy Systems and Custom-Coded Applications
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Huge Data Backups & Computer Glitches Fuel Further Need for High-Performance, Low-Latency Complex Event Processing (CEP)
BOSTON & LONDON--Tuesday's collapse of the Dow Jones Industrial Average and the failure of exchange-related systems to keep up with trading data volumes further signals the need to replace legacy technologies and custom-coded applications with scalable, high-performance Complex Event Processing (CEP) systems. These CEP systems can process up to millions of messages per second in real-time. As data volumes continue to grow exponentially - such as those on the NYSE which surged to 2.41 billion shares on Tuesday - custom-coded and many electronic trading systems are not equipped to process the increasing quantities of real-time data crossing the wire.
"Today's markets are driven by increasing data volumes and widespread adoption of automated trading, and on Tuesday the markets saw heavy trading volumes which we now know overwhelmed existing systems," said Sang Lee, Managing Partner of Aite Group. "The rapid plunge in a key index resulting from the data backlog, combined with the overload in electronic systems, highlights the need and growing demand to upgrade core financial infrastructures. As a result, we expect to see demand for high-performance CEP systems substantially increase because of their inherent ability to manage these exponential increases in market data."
The leading high-performance CEP software, developed by StreamBase Systems, processes, analyzes, and responds to stock market data at volumes ranging from hundreds of thousands of messages/second up to millions of messages/second. As the world's fastest and most scalable CEP platform, StreamBase is used by major investment banks, hedge funds, and exchanges to quickly build real-time market data applications including automated trading, real-time analytics and index computation, pre- and post-trade compliance, and market data processing.
"Yesterday's failure of systems and the resulting anxiety could have been completely avoided if the right systems were in place," said Barry Morris, Chairman and CEO of StreamBase. "The inability of systems to keep pace with the high trading activity can shatter the market, as we saw happen yesterday. There's never been a more critical time, post 9-11, to make an infrastructure change from legacy systems and inflexible custom-coded applications to a 21st century technology built for today's high-volume, low-latency processing demands."
About StreamBase
StreamBase's award-winning Stream Processing Engine, fueled by the standards-based next generation query language, StreamSQL(TM) and an Eclipse-based development environment, offers the fastest Complex Event Processing software for processing of real-time and historical data. With StreamBase and StreamSQL, enterprises can query, process, and analyze real-time and stored data at rates of up to hundreds of thousands messages/second. StreamBase's combination of real-time performance, persistence, and programmability empowers enterprises in industries like financial services, telecom and networking, e-Business, government and military to solve new classes of business challenges in a more timely, scalable, and cost effective manner than custom-coding. StreamBase is headquartered in Lexington, Massachusetts with offices in New York, Washington, D.C., and London. A downloadable version of StreamBase's software is available at www.streambase.com.
Contacts
StreamBase Systems Media Contacts:
Corporate:
StreamBase
Donna Parent
+ 1 781-761-0841
donna.parent@streambase.com
Europe:
Moonlight Media
Alla Lapidus
+44 (0) 20 7250 4770
alla@moonlightmedia.co.uk
North America:
PerkettPR
Christine Major
+1 603-343-5196
streambase@perkettpr.com
