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Home > Resources > Case Study > Large Hedge Fund
FioranoMQ provides messaging infrastructure for a leading US Billion dollar Hedge Fund
A leading USA based Hedge Fund manages money for institutional investors, offering diversified investing across multiple investment strategies. The holding company also owns a retail brokerage that caters to registered investment advisors and other hedge funds.
FioranoMQ provides messaging infrastructure for a leading US Billion dollar Hedge Fund
A leading USA based Hedge Fund manages money for institutional investors, offering diversified investing across multiple investment strategies. The holding company also owns a retail brokerage that caters to registered investment advisors and other hedge funds.
USE CASE
High Speed Messaging
BENEFITS
Fast trade execution
INDUSTRY
Financial Services
KEY PRODUCT COMPONENTS
Fiorano MQ
Business Challenge
Eight years ago, the large hedge fund built an electronic trading platform and real-time profit and loss system around Microsoft Message Queuing (MSMQ) technology and Sonic MQ. While the platform had worked well enough for the hedge fund in the past, the company decided in 2008 to rewrite its electronic trading and real-time profit and loss systems to support highly available, fault-tolerant messaging capabilities.
VP, the hedge fund's software development manager, was designated the task of laying out requirements for the new system, choosing the platform and programming it to meet the institutional money manager's needs.
"In a high-speed, competitive environment, financial transactions depend on a message queuing platform that is both highly available and fault-tolerant," remarks VP, "Therefore, these were the first and most important requirements for building a new system."
Secondly, the new electronic trading platform would need to have superior message throughput. VP elaborates, "In electronic trading, each message represents a financial transaction. Our success executing a trade is contingent on the speed at which we process transactions and deliver them to market. With multiple transactions processing at a time, message throughput was an important factor that we had to take into serious consideration."
A third requirement was ease-of-management. "Basically, we wanted a messaging platform that had a management console that was simple to navigate and manipulate" adds VP.
Finally, VP would evaluate configuration and set-up flexibility and simplicity. "The right solution would be able to easily integrate into our infrastructure and have dynamic functionality so we could customize it to our needs" he concludes.
72%
Increase in Message Throughput
Under highly available environment with FioranoMQ
Business Challenge
Eight years ago, the large hedge fund built an electronic trading platform and real-time profit and loss system around Microsoft Message Queuing (MSMQ) technology and Sonic MQ. While the platform had worked well enough for the hedge fund in the past, the company decided in 2008 to rewrite its electronic trading and real-time profit and loss systems to support highly available, fault-tolerant messaging capabilities.
VP, the hedge fund's software development manager, was designated the task of laying out requirements for the new system, choosing the platform and programming it to meet the institutional money manager's needs.
"In a high-speed, competitive environment, financial transactions depend on a message queuing platform that is both highly available and fault-tolerant," remarks VP, "Therefore, these were the first and most important requirements for building a new system."
Secondly, the new electronic trading platform would need to have superior message throughput. VP elaborates, "In electronic trading, each message represents a financial transaction. Our success executing a trade is contingent on the speed at which we process transactions and deliver them to market. With multiple transactions processing at a time, message throughput was an important factor that we had to take into serious consideration."
A third requirement was ease-of-management. "Basically, we wanted a messaging platform that had a management console that was simple to navigate and manipulate" adds VP.
Finally, VP would evaluate configuration and set-up flexibility and simplicity. "The right solution would be able to easily integrate into our infrastructure and have dynamic functionality so we could customize it to our needs" he concludes.
72%
Increase in Message Throughput
Under highly available environment with FioranoMQ
"FioranoMQ not only had superior message throughput, but its multiple configuration capabilities and flexible architecture enabled us to extend the system ourselves in real time."
Vice President, Software Development, Large Hedge Fund
"FioranoMQ not only had superior message throughput, but its multiple configuration capabilities and flexible architecture enabled us to extend the system ourselves in real time."
Vice President, Software Development, Large Hedge Fund
Solution
Before the search began, VP had ruled out building a new solution around MSMQ because the technology was not able to run with high availability. The hedge fund decided to re-evaluate Sonic MQ technology while introducing a technology that hadn't made the cut for the former electronic trading system, FioranoMQ.
"When we built the original system eight years ago, we had given Fiorano a look - but its HA implementation and a few other features were not as mature as the competition" mentions VP, "For the new system, we re-evaluated FioranoMQ and were pleasantly surprised to find out the program had grown into a powerful messaging platform."
FioranoMQ's ability to run more than one instance of the software empowered the electronic trading system to leverage highly available functionality. While Sonic MQ also provided high availability, FioranoMQ had a key differentiator.
"FioranoMQ is configurable in multiple different ways, which allowed us try different configurations before finding the one that best suited our needs. Coupled with out-of-the-box functionality, FioranoMQ was a far better choice for us."
Solution
Before the search began, VP had ruled out building a new solution around MSMQ because the technology was not able to run with high availability. The hedge fund decided to re-evaluate Sonic MQ technology while introducing a technology that hadn't made the cut for the former electronic trading system, FioranoMQ.
"When we built the original system eight years ago, we had given Fiorano a look - but its HA implementation and a few other features were not as mature as the competition" mentions VP, "For the new system, we re-evaluated FioranoMQ and were pleasantly surprised to find out the program had grown into a powerful messaging platform."
FioranoMQ's ability to run more than one instance of the software empowered the electronic trading system to leverage highly available functionality. While Sonic MQ also provided high availability, FioranoMQ had a key differentiator.
"FioranoMQ is configurable in multiple different ways, which allowed us try different configurations before finding the one that best suited our needs. Coupled with out-of-the-box functionality, FioranoMQ was a far better choice for us."
FioranoMQ's key differentiator
FioranoMQ's ability to run more than one instance of the software empowered the electronic trading system to leverage highly available functionality. This made it a preferred choice for Large Hedge Fund.
Premium technical support
"FioranoMQ not only had superior message throughput, but its multiple configuration capabilities and flexible architecture enabled us to extend the system ourselves in real time. Whenever we have questions or problems, Fiorano's customer support has always been very responsive and helpful"mentions VP.
FioranoMQ's key differentiator
FioranoMQ's ability to run more than one instance of the software empowered the electronic trading system to leverage highly available functionality. This made it a preferred choice for Large Hedge Fund.
Premium technical support
"FioranoMQ not only had superior message throughput, but its multiple configuration capabilities and flexible architecture enabled us to extend the system ourselves in real time. Whenever we have questions or problems, Fiorano's customer support has always been very responsive and helpful"mentions VP.
Results
In the end, FioranoMQ's message throughput was far superior to Sonic MQ's. "We've logged as many as 700 messages per second in a highly available environment with FioranoMQ. With Sonic MQ, we usually peaked out around 200 messages per second."
FioranoMQ's quick configuration capabilities and out-of-the-box functionality proved to be a huge improvement over Sonic MQ, which was difficult to install and configure. Easy-to-use and powerful management consoles were also key differentiators for them in choosing FioranoMQ.
VP says he finds extra value in FioranoMQ's native .NET and Java APIs, which allow him to program into the system without other applications.
Results
In the end, FioranoMQ's message throughput was far superior to Sonic MQ's. "We've logged as many as 700 messages per second in a highly available environment with FioranoMQ. With Sonic MQ, we usually peaked out around 200 messages per second."
FioranoMQ's quick configuration capabilities and out-of-the-box functionality proved to be a huge improvement over Sonic MQ, which was difficult to install and configure. Easy-to-use and powerful management consoles were also key differentiators for them in choosing FioranoMQ.
VP says he finds extra value in FioranoMQ's native .NET and Java APIs, which allow him to program into the system without other applications.
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© 2020 Fiorano Software and Affiliates. All Rights Reserved. Privacy Statement | Terms of Use