| |
       
|
|
The ability to replace one market connectivity solution with another is restricted
New market connectivity components, adhering to the emerging FIX standard for bonds and swaps, are coming onto the scene. But in many cases, e-trading business logic and data is already bound up within existing market connectivity components themselves and is not logically separate. To replace one set of market connectivity components with another means ensuring the new component replicates all that existing business data and business logic, as well as ensuring they connect and interact with the electronic venues properly.
In addition, the lack of unified data and technical nuances between the electronic markets means that trader front-end systems and reporting systems need to be aware of those nuances and provide the effective unification, tying them in to the existing implementations and making it very difficult to
change later.
SOLUTION
DUET will adhere to the FIX standard and will interface with FIX market components. DUET will also map the electronic activity data into FIX format for any connectivity components that do not adhere to FIX, and provide the abstraction. Connectivity components will not need to worry about all the business logic concerning customers, instruments, categorisations, traders and routing rules, automatic negotiation rules etc - they connect and interact technically with the markets but all activity is handed off to DUET, which takes over the business logic of what you want to happen within your bank.
You can then much more easily swap out one electronic venue connectivity component with another; you can focus on ensuring the new component works in terms of its connectivity and state management, and in simply meeting the interface required by DUET. As all the business data is unified in DUET, your existing inquiry negotiation set-up will continue unaffected. |
|
|
|
