OpTier is shipping a new version of its CoreFirst software this week that the company says will provide better visibility into transactions such as trade orders and new tools to meet service level agreements or promises on trade execution.OpTier's CoreFirst "business service management" or "business transaction management" software (this is a newish category whose label has yet to be nailed down) is an agent-based monitoring program that tracks transactions to identify any performance problems. According to the company, the software is used on Wall Street to enable IT departments to keep an eye on applications such as trading, order routing, order management systems, risk and pricing related applications, foreign exchange, settlement, prime brokerage, research portals and private banking portals.
For this 3.0 version of CoreFirst, Optier added better visibility into "in-flight" transactions, particularly the ability to view transaction errors and take corrective action before service level agreements are broken. "This is very relevant to risk management," notes Motti Tal, executive vice president of marketing, product and business development. OpTier also added support for .net applications and, the company says, has scaled the product to be able to monitor tens of millions of transactions per day.
According to Tal, the 3.0 version of the software also has the ability to examine the flow of transactions across an IT infrastructure and suggest means of optimizing the paths of execution. He says this can help financial firms deal with the increasing complexity of their IT environments. "They're introducing new service-oriented architectures and more malleable infrastructures with grids; applications are getting more complex, traders want faster response times and are asking for changes every day -- new products, new capabilities," he says. "How do you deal with effective management?"
Competitors claim OpTier's monitoring solution adds 10 milliseconds to transaction times. "No, we're adding less than a quarter of a millisecond," counters Tal. "And under what scenario? If your scenario is one where order execution is taking 80 milliseconds and you want to drive that down to 20 and you're adding half a millisecond, customers will agree that that's well worth the small price to pay."