Like most verticals, software application development for the financial market is characterised by a number of key criteria and data behaviour types that make it “unique” (although we use the term carefully) in terms of form and function.
Proof point of the week comes from Progress Software who has partnered with Mootwin, a “context-aware” mobile application specialist to enhance its stock-alert features in its banking and finance-oriented solution.
Mootwin will use the Progress Apama Complex Event Processing (CEP) platform to monitor and analyse the securities markets as well as enhance the real-time capabilities of the stock-alert feature within its trading application.
Complex events & triggering events
Mootwin will use the Apama CEP platform to correlate multiple data and “triggering events” in financial markets.
So — multiple data types within complex events analysed by massively powerful processing engines directed at look for further triggering events. This is, in a sense, financial software development in one sentence.
According to a press statement from Progress, “Subscribers of the Mootwin mobile application and service will be able to select a variety of analytical options and graphical displays that best suits them. Based on individual preferences, users can also set up personalised notifications that alert them to trading opportunities or events, almost instantly.”
What makes financial software worth the money then?
This software has to be able to act and react upon data and “events” (complex ones) in real time and provide context-aware analysis of the data in hand.
Where Progress is (arguably) most interesting here is in its data management technology. This “captures and replays event streams” and this allows financial analysts to do what they do, whatever that doing actually is.
NOTE: Complex event processing (CEP) is the use of technology to predict high-level events likely to result from specific sets of low-level factors. CEP identifies and analyzes cause-and-effect relationships among events in real time, allowing personnel to proactively take effective actions in response to specific scenarios. CEP is an evolving paradigm originally conceived in the 1990s by Dr. David Luckham at Stanford University.