Customer
The multi-asset class Clearing House serves a
broad number of major exchanges and platforms as well as range of
OTC markets. The Clearing House helps reduce the risk a member firm
faces in failing to honor its trade settlement obligations, ensures
a clear growth path for clearing across multiple markets, exchange,
venues and geographies.
Challenge
EPAM was chosen by The Clearing House to provide a solution with
the following requirements:
To supply a generic trade capture HUB to reliably work with
multiple venues
To be flexible to accommodate specific FIX dialects and support
required message transformation from FIX to FIXML
To provide integration with MQ
To provide adequate monitoring and configuration options
Solution
EPAM licensed FIXEdge® , its
standalone application server, and provided consulting services
aimed to develop a FIX-compliant trade capture hub and integrate it
with the internal systems of The Clearing House. The solution
provides FIX gateways for submitting trade messages and sending
acknowledgements and status updates to the External Trade Source.
The solution is based on B2BITS' generic server FIXEdge® , extended with
MQ adaptors.
FIXEdge® is
responsible for:
managing FIX sessions with the External Trade Source
receiving trades from the External Trade Source and forwarding
them to internal systems for further processing via IBM WebSphere
MQ
receiving acknowledgments and status updates for reported
trades from internal systems via IBM WebSphere MQ and forwarding
them back to the External Trade Source via FIX
FIXEdge®
technology was used to implement the Trade Capture
Hub for The Clearing House:
Integration with internal systems is done via MQ Adaptor
System operates 24x7 and handles more than 30 Clients'
sessions
FIX Integrated Control Center is used to configure and monitor
the Hub
Approximate daily volume is more than one million messages
High throughput (see benchmark links)
Support of multiple FIX versions (FIX 4.2, FIX 4.4, FIX 5.0SP2,
and custom FIX dialects)
Message transformation on the business level (FIX->FIXML
transformation and vice versa, exception handling)
Technologies and Tools
Results
The implemented FIXEdge® solution
creates a reliable integration of multiple exchanges and trading
platform feeds with The Clearing House internal systems via IBM
WebSphere MQ, with high throughput and low latency. The solution
operates 24x7 with fully automated operations. It has been
successfully used in The Clearing House's production since
2009.