Pushing further into the real-time data space, Sybase, Inc. is rolling out a complex event processing (CEP) technology that will tightly integrate with RAP-The Trading Edition, an analytical platform used in capital markets for trading, market data and risk management.
The new Sybase CEP in conjunction with RAP will provide traders, risk managers and quantitative analysts with the ability to perform real time analytics on high-speed streaming trade and market data, according to today's release.
"If you are following the general trend in the CEP space, it's growing in its usage and importance," comments Dominic Iannaccone, Director Business Development, Financial Services Industry at Sybase. "It was a natural extension to include CEP in our portfolio," says Iannaccone, noting that the area Sybase plays in is the data management space.
Sybase CEP will round out the value of the RAP platform, which was only released in March of 2008, noted Iannaccone. "The concept of RAP is to be a data processing platform that allows various users to interact with data based on their timing needs," says Iannaccone. "At the high end, you have streaming data and there are times you need an in-memory cache of our relational database and then there is a deep historical database which is RAP Store," he says.
While the obvious use of CEP is for dealing with real-time data, Iannaccone explains, there is increasing interest in use of CEP not only where data is changing tick-by-tick speed, but in cases where data is changing less frequently. "For example, if there is a change in corporate actions or a downgrading from Moody's and S&P, or something in the news, that can be coming via the stream," he continues. "It becomes not just for data that is streaming constantly although when the events occur you may react frequently," he says.
However, a piece of information that is not mentioned in the release is that Sybase's CEP engine comes from a licensing agreement with Coral8, the CEP vendor that is merging with Aleri. Sybase has licensed the Coral8 engine and plans to embed that into RAP, according to Marc Adler, director and chief architect of equities at Citigroup. Adler told Wall Street & Technology that Sybase CEP is based upon a combination of Coral 8 and Sybase IQ. Adler says Sybase has informed him that the company bought the source code from Coral8. Adler says it's important for industry to know this given the merger between Coral 8 and Aleri, because firms will need to think about what they want to do with Coral 8.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio