Exponentially increasing transaction volumes, ever-increasing demand for data processing speeds, along with the need to be compliant with ever changing regulatory requirements – these are some of the major challenges that the Financial Industry is faced with today. The demand for building capable technology solutions to handle the massive amount of data coming from daily transactions and being able to process, analyze, and report this data in real-time has never been higher. Additionally, legacy non-scalable and non-extendable software solutions and infrastructure are becoming a maintenance and support headache for most industry players. Cost of ownership, upgrading and maintaining such systems, coupled with reduced scope for innovation in products and services is becoming a management nightmare.

Thankfully, advancements in the information technology world in the recent years, both in terms of software solutions and infrastructure, have opened up new ways to meet these challenges associated with increased transaction volumes and the need for high processing speeds. New architectural paradigms, software solutions and frameworks, the use of cloud-based computing, storing and analyzing data using a Big Data paradigm are some of the major power innovations that the financial industry can take advantage for building true distributed systems with linear scalability in data processing, analysis, and reporting.

Abacus has extensive domain experience and expertise in advanced technology solutions that we use to provide software and infrastructure services for the Financial Industry. Our team has extensive knowledge and experience in providing solutions to major Wall Street companies in the areas of Trade Processing, Risk Management, Compliance, Surveillance, Regulatory Reporting, Financial Analytics, and Transaction Monitoring. Abacus has built a proprietary solution for a high throughput complex event processing engine using cutting-edge solutions open source frameworks. The Abacus framework can be used to provide customized solutions to its clients to solve specific business problems. Additionally, Abacus has extensive knowledge and experience with deploying solutions in the cloud, optimized to provide a linearly scalable infrastructure.

Big Data Financial Framework

Case Study

Abacus provides customized solutions, using the GigaProc engine, to build a unified global platform bridging the gap between market demands and Big Data challenges. The platform provides comprehensive solutions for Compliance, Risk, Surveillance, Analytics and Monitoring. GigaProc provides a means to capture high volumes of data, process the data across n number of distributed nodes parallely, persist the data for analysis and reporting. Coupled with the ability to deploy and run solutions based on this framework on Cloud infrastructure, GigaProc provides for a cost effective and viable frame work to meet many of the client application demands.

Major Benefits of GigaProc

Handle hundreds of thousands of events per second: The GigaProc engine is designed to process and analyze huge volumes of events, with ability to scale up on demand. The rate of events at any given time can be highly unpredictable and our engine has capabilities to gracefully deal with spikes in message load.

Aggregate and correlate data in multiple streams: GigaProc has the ability to relate and combine data from multiple sources as they arrive, in real-time. This is possible without introducing any additional latency due to the extra processing involved.

Aggregate streaming data with historical or related data: It is not enough to get a view of just fast moving streaming data. Sometimes, to make sense and enable decision making, applications need views that combine current data with historical streaming data or data originating from other enterprise data repositories. The GigaProc engine together with Complex Event Processing (CEP) achieves this objective as well.

Distributing the derived events to client applications: GigaProc not only does continuous analysis of streaming data but also is capable of distributing (pushing) the derived events to remote enterprise applications that may be distributed on over intranet/internet in some cases. Providing resilient client connectivity and reconnection mechanisms are critical functions that GigaProc performs.

Guaranteed Quality of Service (QoS): For real-time applications that sense and respond to simple events, it is critical that the derived events be delivered within a configured time interval. For instance, in very low latency applications, events should be analyzed and results delivered to clients within a few microseconds to milliseconds. GigaProc ensures that.

High availability: High availability of services and applications with huge data volumes is a concern that needs to be addressed by enterprises. The GigaProc engine provides high availability for the data it manages through flexible replication strategies. It also ensures that all run time components are resilient and provide automatic failover services. All incoming transactions are inserted into a Big Data database can be customized according to client requirements. Both ne-grained as well as coarse-grained Big Data can be used to generate historical reports, business analytics. Historical search can also be performed on the archived Big Data.

Scalability : Extreme scalability is needed to process Big Data events and transactions with high throughputs and low latencies. Full use of multiple core, multiple server configurations is made by the GigaProc engine to ensure the data is processed correctly in a cluster of computers.

Display the Real-time data in Dashboards: With our advanced GUI solution including customizable dashboards, we are able to display both real-time as well as historic information. Real-time information is displayed as and when the data is received.