Article

An integrated service architecture for managing capital market systems

Univ. of New South Wales, NSW
IEEE Network (Impact Factor: 2.54). 02/2002; 16(1):15 - 19. DOI: 10.1109/65.980540
Source: IEEE Xplore

ABSTRACT

This article studies current developments and trends in the area
of capital market systems. In particular, it defines the trading
lifecycle and the activities associated with it. The article then
investigates opportunities for the integration of legacy systems and
existing communication protocols through distributed integrated services
that correspond to established business processes. These integrated
services link to basic services such as an exchange, a settlement, or a
registry service. Examples of such integrated services include pre-trade
services (e.g., analytics) or post-trade services (e.g., surveillance).
The article then presents the various levels of integration in capital
market systems and discusses the standards in place. It establishes that
most interactions occur at a low level of abstraction such as the
network (e.g., TCP/IP), data format (e.g., FIX, XML), and middleware
levels (e.g., CORBA). Finally, the article discusses a software
development methodology based on the use of design patterns. These
design patterns address the essential aspects of managing integrated
services in a technology-independent fashion. These aspects are service
wrapping, service composition, service contracting, service discovery,
and service execution. The objective of the methodology is to facilitate
the rapid development of new integrated services that correspond to
emerging business opportunities

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Available from: Fethi A. Rabhi, Sep 17, 2014
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    • "XML has become an increasingly important data standard for use in organizations as a way to transmit data [4] [5] [6] [7] and has also attracted the attentions of those people who are working in areas of wireless communications, in particular for so called small wireless devices. Additionally it is being used to enable web services and similar, often custom, RPC functionality to allow greater access to data across multiple systems within an organization and allowing the possibility of future systems to be created from collections of such RPC functionality. "
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    ABSTRACT: Since XML became an official recommendation of the World Wide Web Consortium (W3C) in 1998, it is increasingly being used to transmit data on networks but is a verbose format and needs an efficient encoding to send relatively large amounts of data efficiently. This requirement is particularly important for wireless data communications. It is a common technical challenge for researchers in XML-driven networks to have good performance. One may employ a middleware to enhance performance by minimizing the impact of transmission time [1, 3]. Normally, to reduce the amount of data seat the XML documents are converted to a binary format using a compression routine such as Gzip. However while this would reduce the payload, it results in an increase in the CPU time as the XML document must be compressed before being sent and uncompressed when it is received. In this paper we extended our previous research results [2, 11-13] to an enabling technology, namely Dynamic Adaptive Threshold Transmission (DATT) for XML data on networks. We also show the experimental results obtained from our technique and that from the Network Adaptable Middleware (NAM) established by Ghandeharizadeh et al [1]. Experimental results show that our method is superior to the NAM method [1], supported by the fact that the time taken is 220.6 times better.
    Full-text · Article · Jan 2007
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    • "Software systems used in capital markets can be classified according to their position in the trading lifecycle [23]: • Pre–trade services. The delivery of real–time and historical market data, analysis of this data, and routing of an order to the best trading entity for a transaction. "
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    ABSTRACT: Web services, with an emphasis on open standards and flexibility, may provide benefits over existing capital markets integration practices. However, web services must first meet cer- tain technical requirements including performance, security and fault-tolerance. This paper presents an experimental evaluation of SOAP performance using realistic business application message content. To get some indication of whether SOAP is appropriate for high performance capital markets systems, the results are compared with a widely used existing protocol. The study finds that, although SOAP performs relatively poorly, the difference is less than in sci- entific computing environments. Furthermore, we find that in realistic business applications it is possible for text-based wire formats to have comparable performance to binary, and that the
    Preview · Article · Jul 2004 · Computer Systems Science and Engineering
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    • "Software systems used in capital markets can be classified according to their position in the trading lifecycle [21]: "
    [Show abstract] [Hide abstract]
    ABSTRACT: Web services, with an emphasis on open standards and flexibility, may provide benefits over existing capital markets integration practices. However, web services must first meet certain technical requirements including performance, security and fault--tolerance. This paper presents an experimental evaluation of SOAP performance using realistic business application message content. To get some indication of whether SOAP is appropriate for high performance capital markets systems, the results are compared with a widely used existing protocol. The study finds that, although SOAP performs relatively poorly, the difference is less than in scientific computing environments. Furthermore, we find that in realistic business applications it is possible for text--based wire formats to have comparable performance to binary, and that the text--based nature of XML is not sufficient to explain SOAP's inefficiency. This suggests that further work may enable SOAP to become a viable wire format for high performance business applications.
    Preview · Article · May 2003
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