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dacoma ExpertTalks 2016

OPEN  DISTRIBUTION  
PLATFORM

10  November  2016
Presented  by  Damian  Maguire

Proprietary  &  Confidential


Who  is  Vela?

Independent  global  leader  in  high  performance  


trading  and  market  data  technology

Providing  breadth  of  coverage  &  depth  of  


expertise demanded  by  today’s  multi-­asset,  
multi-­region  electronic  trading  marketplace

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Vela  Products  &  Services

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Market  Data
• Direct  Exchange  Feed  
Handling
• Consolidated  Data  Feed:  
SuperFeed
• Vendor  Bridges
• Market  Data  Distribution

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Services
• Delivered  globally by  an  experienced team  of  industry  
and  technology  experts
• Implementation  support
• Managed  solutions
• OpenMAMA development  support
• Partnering  with  dacoma to  provide  German  region  support

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Vela  Distribution  Platform
A  next  generation  Market  Data  
Platform,  built  upon  a  core  of  
truly  open  technology,  
leveraging  best  in  class  vendor  
solutions,  complementing our  
client’s  existing  software  and  
infrastructure,  and  allowing  them  
to  focus  on  executing on  their  
own  critical  projects

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Challenges
Open  Client  
API

Data  
Content

Caching  &  
Distribution

Internal  
Publishing

Legacy  
Applications

Monitoring  
and  Usage

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Challenge:  Open  Client  API

Data   Caching  and   Internal   Legacy   Monitoring  &  


Open  Client  API Content Distribution Publishing Applications   Usage

• Next  generation  platforms will  be  built  upon  a  


common  core  of  truly  open  client  APIs
• Focus  on  avoiding  vendor  lock-­in
• Leverage  a  collaborative developer  community  
focused  on  common  problems  
• Ensure  access  to  expert level  know-­how  via  adoption  
of  an  industry  standard

Proprietary  &  Confidential


OpenMAMA

Open  
Middleware  Agnostic  
Messaging  API

Proprietary  &  Confidential


What  is  OpenMAMA?
• Market  Data  Abstraction  Layer
• Clients  write  to  single  API
• Hide  complexity  of  underlying  
protocols
• Consume  from  multiple  sources
• Easily  switch  underlying  platform
• Vela  Data  Fabric
• Solace
• Zero  MQ

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What  is  OpenMAMA?
• Hosted  by  the  Linux  Foundation
• Full  source  available  on  Github
• LGPL  2.1
• Steering  Committee  of  Industry  
Stakeholders
• JP  Morgan,  Tick  42,  Solace,  Vela,  
Arcontech
• Advisory  Group
• Technical  Committee
• Maintainer

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Vela  &  OpenMAMA

“We’re  proud  of  the  part  we’ve  played  


in  creating  this  common  standard  for  
the  market  data  industry  and  we’re  
delighted  to  see  how  it  has  developed  
and  evolved  over  the  years.”
-­ Jennifer  Nayar,  CEO,  Vela  Trading  Technologies

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Vela  &  OpenMAMA

• Vela’s  approach  is  two  fold:


• Leverage  OpenMAMA as  an  
interface  through  which  
clients  can  access  our  
products  and  services
• Continue  to  deliver  the  best-­
of-­breed  technology  under  
OpenMAMA

Proprietary  &  Confidential


OpenMAMA Enterprise  Edition
• Fully  certified  and  tested  release  
of  OpenMAMA
• Generated  from  the  open  source  
codebase
• Certified by  Vela  QA  engineers
• 24/7  Global  Support
• Includes Value  Added  Software
• Feed  Handler  SDK  Advanced   OpenMAMA

Publisher  Framework MAMDA

Application
• Data  Fabric  TCP
• Enterprise  Plugins

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Challenge:  Data  Content  &  Symbology

Data   Caching  and   Internal   Legacy   Monitoring  &  


Open  Client  API Content Distribution Publishing Applications   Usage

• Changing  market  data  vendor  can  be  extremely  


costly  and  complex
• Avoid  dependency  on  single  market  data  vendors,  
and  mitigate  risk  
• Easily  integrate  new  vendors  without  rewriting core  
applications

Proprietary  &  Confidential


Data  Content
• Data  can  be  sourced  from  
Vela’s  best-­of-­breed  Direct  
Exchange  Feed  Handlers,  
SuperFeed and  alternative  
vendor  bridges
• Technology  stack  for  
bridging  data  to  TREP
• Data  model  translation
• Real  cost  savings  
through  exploring  
alternative  data  providers
Proprietary  &  Confidential
Symbology Mapping
• WorldView -­ Centralized  
Symbology and  Source  
Resolving  server
• Dynamic  source  switching
• Seamless  integration  with  the  
Enterprise  OpenMAMA API  and  
Vela  platform  components
• RIC  Symbology Mapping  
• Provided  by  partner  Magtia
• Vendor  symbology mapping  and  
chain  records

Proprietary  &  Confidential


Challenge:  Caching  &  Distribution

Caching  
Data   and   Legacy   Monitoring  &  
Open  Client  API Content Publishing Applications   Usage
Distribution

• Building  a  flexible  architecture  which  is  both  robust  


and  resilient
• High  performance  to  ensure  lowest  footprint  and  
reduced total  cost  of  ownership
• Distribute data  throughout  the  organisation with  a  
single  platform

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OpenMAMA Cache
• OpenMAMA based  last  value  
cache
• Bridge  middlewares for  tiered  
architectures
• Data  multiplexing  and  
consolidation
• Data  service  levels  
• Real-­time,  delayed,  conflated  and  
snapshot OpenMAMA

• Enterprise  grade  components MDCache


• Scalable SF

OpenMAMA
• Fault  tolerant  
• Runtime  administration  tools

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Data  Fabric  Middleware
• Enterprise  capable,  multi-­
transport  message  oriented  
middleware  (MOM)  
• Publish  – Subscribe  semantics
• Utilizes  the  Data  Fabric  Naming  
Resolution  Protocol for  simplified  
configuration  across  transport  
types
• Data  Fabric  TCP  
• Data  Fabric  Multicast   Data  Fabric  Multiverb/Multicast

• Data  Fabric  MultiVerb


• Data  Fabric  LDMA

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Challenge:  Internal  Publishing

Data   Caching  and   Legacy   Monitoring  &  


Open  Client  API Content Distribution Publishing Applications   Usage

• Support  internal  data  sources  on  the  same  platform


• Consistent,  stable,  fault  tolerant  applications  
• Use  standard  protocols  across  applications  – clients  
should  not  have  to  reinvent  common  functionality

Proprietary  &  Confidential


Feed  Handler  SDK
• Advanced  Publishing  Software  
Development  Kit  
• Built  on  the  OpenMAMA API
• Facilitates  design  and  
implementation  of  complex  
market  data  publishing  
applications
• Provides  complete  support  for:
• Record  and  Orderbook Caching
• Subscription  Lifecycle   Client
Management FHSDK
• Fault  Tolerance  &  High  Availability OpenMAMA

• Part  of  Vela’s  Enterprise  Edition  of  


OpenMAMA

Proprietary  &  Confidential


Challenge:  Legacy  Applications

Caching  and   Legacy   Monitoring  &  


Open  Client  API Data  Content Distribution Publishing Applications   Usage

• Allow  legacy  platforms  to  continue  to  consume  and  


redistribute  data  during  transition  phase
• Without  restricting  new  applications  access  to  
advanced  functionality
• Support legacy  applications  which  are  unable  to  
migrate

Proprietary  &  Confidential


TREP  Bi-­Directional  Bridge
• Transport  data  both  in  and  out  of  
legacy  TREP  environments
• Smooth  migration  path  for  
applications  moving  from  TREP  
into  an  OpenMAMA platform
• Allows  legacy  applications  to  
continue  to  subscribe  via  TREP,  
but  to  receive  data  from  new  data   VB
SF

sources SF
MC

Proprietary  &  Confidential


Challenge:  Operational  Monitoring  &  
Usage

Data   Caching  and   Legacy   Monitoring  


Open  Client  API Content Distribution Publishing Applications   &  Usage

• Advanced  monitoring  capabilities  to  ensure  


supportability  and  rapid  response  to  incidents
• Data  usage  reporting  and  entitlements built  into  
every  component  
• Eliminate  risk  and  ensure  effective  management  of  
market  data  costs

Proprietary  &  Confidential


DART  Entitlements
• Entitlement  control  and  reporting  
system  
• Satisfy  audit  reporting  
requirements  of  exchanges,  third  
party  vendors,  and  clients
• Tools  to  monitor  and  control  
market  data  usage  
• Vendor  neutral
• DART  Open  Entitlements  API  for  
in  house  or  third  party  integration
• Flexible  reporting  formats  
• Interface  with  cost  inventory  
systems

Proprietary  &  Confidential


Operational  Monitoring
• Vela  ITRS  Geneos Plugin  Suite
• ITRS  is  a  world  leader  in  real  time  
system  and  application  
monitoring
• Monitors  hardware,  network  and  
application  health
• Visualisation,  alerting  and  
database  logging
• Powerful  and  flexible  rules  engine  
for  customising  alerts  to  clients  
needs
• Vela  plugin  suite  gives  a  detailed  
view  of  the  platform  including  
latency,  message  rates  and  data  
integrity

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Questions?

Connect  with  Vela:


velatradingtech.com

twitter.com/vela_tt

instagram.com/vela_tt

linkedin.com/company/vela-­trading-­technologies
Proprietary  &  Confidential