Eurex SecLend/STABILIT INFORMATIK AG, Switzerland
Caché enables growth of Eurex securities exchange
Founded in 1998 as a joint venture between Deutsche Börse AG and the SWX Swiss Exchange, Eurex is one of the world's leading derivatives exchanges. In 2005 they launched a new division, Eurex SecLend, a fully integrated electronic marketplace for the global security lending of fixed income stocks and bonds. Their automated data maintenance solution, called Data Care Management, is based on InterSystems Caché.
The Data Care Management solution was
developed by STABILIT INFORMATIK for
Eurex when it became obvious that they
could not launch SecLend using the old,
manual processes for collecting and
combining information about securities.
Data arrives on a regular basis by E-mail in Excel files from providers such as
Bloomberg, Swiss National Bank SNB, Telekurs, and others. In addition, Web
sites of other data sources have to be queried. “This is extremely complex
master data that we obtain from external sources, consolidate, and subject to
comprehensive quality controls,” explains Francisco Gonzalez, head of Eurex
SecLend. From processing about 20,000 securities at its inception, today
SecLend handles about 60,000. “Without automation, we would be unable to
manage these volumes of static data,” says Gonzalez.
“We were particularly impressed with how Caché dealt with complex data and its seamless connection to our Java environment. A relational database would have been hopelessly outmatched.”
--Jan Trnka
General Manager
STABILIT INFORMATIK
Using Java as their development language, STABILIT coupled the Caché high performance object database with the Visual Rules rules engine and Kiwi web extractor to create the Data Care Management solution for Eurex SecLend. The solution automatically accepts data from a wide variety of sources, and, using a complex series of business rules, consolidates them into a master data store that is made available to trading platforms. “We had high expectations regarding the performance and scalability of Caché,” remembers Jan Trnka, general manager of STABILIT, “but we were particularly impressed with how it dealt with complex data and its seamless connection to our Java environment. A relational database would have been hopelessly outmatched.”
Gonzalez believes that Eurex SecLend is fully equipped to handle their planned global market growth, saying, “The extensive automation has freed up capacity in the team, and 100,000 securities are absolutely no problem for us.”
