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Home > Resources > Case Study > Crédit Agricole Titres
FioranoMQ helps maintain daily retail stock trade volume for French Bank
Crédit Agricole Titres is a subsidiary of the Crédit Agricole Group, the leading banking player in France with more than 9000 branches and leader in retail banking in Europe. It markets a variety of securities back office services & internet platforms to institutions such as private banks and online brokers.
FioranoMQ helps maintain daily retail stock trade volume for French Bank
Crédit Agricole Titres is a subsidiary of the Crédit Agricole Group, the leading banking player in France with more than 9000 branches and leader in retail banking in Europe. It markets a variety of securities back office services & internet platforms to institutions such as private banks and online brokers.
USE CASE
Brokerage platform. Low-Latency
BENEFITS
High speed messaging. No transaction data lost.
INDUSTRY
Financial Services
KEY PRODUCT COMPONENTS
FioranoMQ
Business Challenge
As is the case in other global markets, the French financial industry is in a constant state of change-and Crédit Agricole Titres is no exception. In 2003, for example, the investment subsidiary formed a partnership with BNP Paribas to create Euro Securities Partners, a way to streamline both companies' back office production systems.
Today Crédit Agricole Titres holds a nearly 40% share of the French retail and private bank custody services market. Maintaining industry-leading customer service levels amid multiple mergers and partnerships, however, is a continuing challenge. Of greatest importance, the firm's stock exchange Web site must securely and reliably facilitate stock transactions and account management, as well as deliver news, analysis and other services, for its growing list of customers.
To accomplish these many tasks, the Crédit Agricole Titres IT department created a powerful Web-based trading infrastructure. Buy/sell orders from customers must be accurately transformed into FIX (Financial Information exchange) messages for execution by brokers. These messages, as well as others passed between various producers and consumers of information, require world-class middleware that can communicate between heterogeneous systems.
65%
Daily transaction activities in first hour
FioranoMQ ensures messaging, persistence,
security and data integrity prior to
heaviest trading times
Business Challenge
As is the case in other global markets, the French financial industry is in a constant state of change-and Crédit Agricole Titres is no exception. In 2003, for example, the investment subsidiary formed a partnership with BNP Paribas to create Euro Securities Partners, a way to streamline both companies' back office production systems.
Today Crédit Agricole Titres holds a nearly 40% share of the French retail and private bank custody services market. Maintaining industry-leading customer service levels amid multiple mergers and partnerships, however, is a continuing challenge. Of greatest importance, the firm's stock exchange Web site must securely and reliably facilitate stock transactions and account management, as well as deliver news, analysis and other services, for its growing list of customers.
To accomplish these many tasks, the Crédit Agricole Titres IT department created a powerful Web-based trading infrastructure. Buy/sell orders from customers must be accurately transformed into FIX (Financial Information exchange) messages for execution by brokers. These messages, as well as others passed between various producers and consumers of information, require world-class middleware that can communicate between heterogeneous systems.
65%
Daily transaction activities in first hour
FioranoMQ ensures messaging, persistence,
security and data integrity prior to
heaviest trading times
"FioranoMQ® enables us to put into practice strategic schemes that would have been too expensive in the past; Fiorano allows us to act quickly to leverage market trends."
Software Architect, Crédit Agricole Titres
"FioranoMQ® enables us to put into practice strategic schemes that would have been too expensive in the past; Fiorano allows us to act quickly to leverage market trends."
Software Architect, Crédit Agricole Titres
Solution
Crédit Agricole Titres' integration team determined it needed a communication backbone that could not only interface with its FIX engine, but also reliably cache messages. "Our trading site is unique in that 65% of our daily transaction activity is produced between 9:00 and 10:00 CET-the first hour that our markets are open," said Jean Louis David, Project Manager for Crédit Agricole Titres. "It's essential that we be able to ensure persistence and integrity of data prior to, and during, our heaviest trading times."
With assured messaging, persistence, security and data integrity as its primary goals, David and his team, with the help of an outside consultant, sought out a best-of-breed JMS (Java Messaging Server) messaging platform. After evaluating several alternatives, including open source products, the group selected FioranoMQ. "We had used Fiorano products before and we were comfortable with their quality. Our evaluation of FioranoMQ showed it would work well with our new FIX engine," noted David. With FioranoMQ as its core, Crédit Agricole Titres' JNDI (Java Naming and Directory Interface)/JMS middleware server receives trade orders coming from the site's Order Manager. The orders are placed in the message queue where they are translated as a FIX instance for use by Appia, the investment subsidiary's FIX server product. From there, the orders are outputted to Reuters Order Routing for brokers.
Solution
Crédit Agricole Titres' integration team determined it needed a communication backbone that could not only interface with its FIX engine, but also reliably cache messages. "Our trading site is unique in that 65% of our daily transaction activity is produced between 9:00 and 10:00 CET-the first hour that our markets are open," said Jean Louis David, Project Manager for Crédit Agricole Titres. "It's essential that we be able to ensure persistence and integrity of data prior to, and during, our heaviest trading times."
With assured messaging, persistence, security and data integrity as its primary goals, David and his team, with the help of an outside consultant, sought out a best-of-breed JMS (Java Messaging Server) messaging platform. After evaluating several alternatives, including open source products, the group selected FioranoMQ. "We had used Fiorano products before and we were comfortable with their quality. Our evaluation of FioranoMQ showed it would work well with our new FIX engine," noted David. With FioranoMQ as its core, Crédit Agricole Titres' JNDI (Java Naming and Directory Interface)/JMS middleware server receives trade orders coming from the site's Order Manager. The orders are placed in the message queue where they are translated as a FIX instance for use by Appia, the investment subsidiary's FIX server product. From there, the orders are outputted to Reuters Order Routing for brokers.
Fiorano Deployment Architecture at Crédit Agricole Titres
Fiorano MQ provides high-performance communication backbone
FioranoMQ provided Crédit Agricole Titres a high performance enterprise communication backbone designed to support mission-critical applications. FioranoMQ’s guaranteed message delivery ensured complete fault tolerance ensuring that business continued to operate in the event of software, hardware or network failure.
This fault tolerant messaging architecture featured high availability clustering as well as robust load balancing with failover protection. To maximize message throughput and minimize latency, the FioranoMQ offered a file-based message store that typically enabled applications to run up to 10 times faster than with competitive products.
FioranoMQ ensured no market transaction can be lost
FioranoMQ's 256-bit SSL-encryption plug-in for both TCP as well as HTTP[s] connections, and strong authentication/authorization capabilities, also deliver system security. "FioranoMQ and Appia are standardized products.," said Belhassen Belkhechine, Study and Integration Team Leader, "With this architecture, we can't lose any messages. Fiorano ensures that no market transaction can be lost."
Fiorano Deployment Architecture at Crédit Agricole Titres
Fiorano MQ provides high-performance communication backbone
FioranoMQ provided Crédit Agricole Titres a high performance enterprise communication backbone designed to support mission-critical applications. FioranoMQ’s guaranteed message delivery ensured complete fault tolerance ensuring that business continued to operate in the event of software, hardware or network failure.
This fault tolerant messaging architecture featured high availability clustering as well as robust load balancing with failover protection. To maximize message throughput and minimize latency, the FioranoMQ offered a file-based message store that typically enabled applications to run up to 10 times faster than with competitive products.
FioranoMQ ensured no market transaction can be lost
FioranoMQ's 256-bit SSL-encryption plug-in for both TCP as well as HTTP[s] connections, and strong authentication/authorization capabilities, also deliver system security. "FioranoMQ and Appia are standardized products.," said Belhassen Belkhechine, Study and Integration Team Leader, "With this architecture, we can't lose any messages. Fiorano ensures that no market transaction can be lost."
Results
Crédit Agricole team found that FioranoMQ was more than up to the task of handling the thousands of messages that travel through Crédit Agricole Titres' trading site each day. "We use the FioranoMQ console to see how many transactions are in our queue before the markets open," he noted. "We receive many alerts and transactions during our burst of activity at the beginning of each trading day, so with FioranoMQ we can detect any potential problems that can impact our transmissions to the market." says Project Manager, Jean Louis David.
Beyond its stated goals of accurate messaging, persistence, data integrity and security, the Crédit Agricole team has found FioranoMQ's scalability and speed, as well as its Enterprise Service Bus (ESB) and Service Oriented Architecture (SOA), of additional value in responding to changing business needs.
"To be a leading market player, we must act quickly to leverage market trends," he stated. "FioranoMQ enables us to put strategic schemes into practice that would have been too expensive in the past. We can use FioranoMQ to provide services our customer's desire, at a reasonable cost."
Results
Crédit Agricole team found that FioranoMQ was more than up to the task of handling the thousands of messages that travel through Crédit Agricole Titres' trading site each day. "We use the FioranoMQ console to see how many transactions are in our queue before the markets open," he noted. "We receive many alerts and transactions during our burst of activity at the beginning of each trading day, so with FioranoMQ we can detect any potential problems that can impact our transmissions to the market." says Project Manager, Jean Louis David.
Beyond its stated goals of accurate messaging, persistence, data integrity and security, the Crédit Agricole team has found FioranoMQ's scalability and speed, as well as its Enterprise Service Bus (ESB) and Service Oriented Architecture (SOA), of additional value in responding to changing business needs.
"To be a leading market player, we must act quickly to leverage market trends," he stated. "FioranoMQ enables us to put strategic schemes into practice that would have been too expensive in the past. We can use FioranoMQ to provide services our customer's desire, at a reasonable cost."
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© 2020 Fiorano Software and Affiliates. All Rights Reserved. Privacy Statement | Terms of Use