CMC Markets has deployed a complex event processing (CEP) platform from StreamBase Systems to cleanse and distribute FX prices to clients. The firm says it plans to extend its use of the platform to other markets, including indices, futures, commodities and treasuries, by year-end.
According to CMC’s CIO, Asif Adatia, the firm is primarily using StreamBase to cleanse and correct incoming FX prices from multiple sources – such as tier one brokers and market data vendors – using proprietary models, and then publish bid/offer prices to clients. The firm is using a combination of StreamBase adapters and its own in-house handlers to connect to the various liquidity providers and the StreamBase platform to manage the algorithms to cleanse and aggregate prices. Other applications using the StreamBase technology include internal hedging, risk management and P&L calculation tools.
“Our requirement was for a mature CEP platform that can connect to multiple FX market data sources, handle tens of thousands of events per second and at the same time offer high availability,” says Adatia
In stress tests, the StreamBase technology processed 17,000 price ticks per second. According to Adatia that figure represents more than twice the real-life peak rate for price ticks encountered so far.