Trade Execution Mediator
The Trade Intermediary is a middle tier service that was developed for a major brokerage house to provide delivery channel and target processing systems independence. The system accepts trade orders from multiple delivery channels and sends the orders to one of several execution systems that actually process the orders. It is responsible for processing responses from those execution systems and for sending them to the originators.
The mediator is designed to manage a very large volume of synchronous and asynchronous interactions, mediate among several distinct input channels and several execution systems. It also provides a generalized workflow capability to enable prioritization of orders. System characteristics include channel and format independence, common loading, routing and message formatting and support for synchronous and asynchronous processing modes.
Trading Engine
We built an equity trading engine for a large financial organization using OE’s in-house developed Equity Trading framework 1.
Some of the business needs that this project was expected to satisfy are listed below:
- Automation - Equity trades were being handled in a semi-manual method and automation was one of the main drivers of the project.
- Compliance - The customer had to comply with new federal mandates and the solution had to ensure compliance.
- New Products - The customer also envisioned possibilities of introducing new products. The new system had to be flexible to accommodate new products with some configuration, without having to touch the underlying code.
1 Equity Trading Framework and all enhancements and modifications to the framework constitute the intellectual property of Object Edge.'
- Larger Trading Volumes – The new products were expected to have substantially larger trading volumes. The new automated solution had to be designed to handle the additional volumes.
Some of the important capabilities of the system are listed below:
- Order receipt and validation
- Order aggregation
- Pricing
- Dollar trades
- Commission & SEC fee calculation
- Closing the market
- Interface to multiple execution systems
The new system went on stream on schedule and it met all envisioned business needs to the total satisfaction of the customer.
Booking Factory
Object Edge developed executable architectural specifications for real time booking for a large European financial institution. Specifications were developed using software factory concept and component architecture. The architecture provided for a flexible and scalable platform for processing payment orders and providing near real time information on status of orders and associated booking to various clients.
The on-line real time booking system accepts transactions from multiple channels and produces cost-efficient real time booking, general ledger information, and an enriched integrated view of customer transactions. Some of the major processing stations of the factory are Disposition Booking, Customer Accounting, General Ledger, Enrichment Center, and the Information Bar.
The factory achieves efficiency by parallel processing and achieves scalability by its ability to add processing stations dynamically. The Information Bar enables the bank to provide information in real time on customer transactions and bank payment status.
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