A Press Release
Financial Technologies of India Adopts eXtremeDB Database To Manage Growing Volumes of Trading Data
September 21, 2011 — McObject®, developer of the eXtremeDB® In-Memory Database System (IMDS) and related product family, announced today that Mumbai-based Financial Technologies of India, Ltd. (FTIL), a global leader in offering technology and domain expertise in creating next-generation market solutions, will integrate the eXtremeDB IMDS in its software products.
FTIL will deploy eXtremeDB in its Microsoft Windows Server-based DOME (Distributed Order Management Engine) trading platform and in other software products responsible for aggregating data received from multiple sources, filtering it to support end-users’ requests, and enabling recognition of patterns of interest.
“eXtremeDB replaces the relational database management system (RDBMS) that previously supported middle-tier functions in existing products, while some of our new solutions will adopt the architecture based on eXtremeDB from day one,” explained Jigish Sonagara, senior vice president, FTIL. Sorting and updating records with minimal latency is central to the application’s principal task of turning a flood of raw data into useful information that can be accessed instantly. “A growing volume of data at this level of the system is what prompted our company to seek a database solution that offers greater efficiency than traditional RDBMS software, which has been a staple of financial markets for several decades,” Mr. Sonagara added.
In-memory database systems have emerged more recently – the first commercial products appeared in mid-1990s – with the promise of higher performance. An IMDS manages data entirely in main memory, eliminating the latency associated with disk and file I/O, cache management, data transfers and other functions that are “hard-wired” into RDBMSs. It is this streamlined design that enables the IMDS to perform an order of magnitude much faster than the traditional relational database systems.
Engineers at FTIL researched the IMDS product category and chose eXtremeDB based on stringent evaluation criteria. eXtremeDB met these requirements via the following features and capabilities:
Speed. McObject designed eXtremeDB from a scratch as an IMDS, with all its features built on top of the core in-memory database engine. McObject’s published benchmarks document speed approaching 100 million query transactions per second. The system has been able to consistently meet the growing needs of demanding applications, ranging from telecommunications routing to real-time financial trading.
Standards-based. The SQL language is standard for database programming in finance and other enterprise sectors. FTIL required support for SQL and also for the Open Database Connectivity (ODBC) standard. McObject’s eXtremeSQL product provides a high performance SQL implementation that is also ODBC-compliant.
Scalable. eXtremeDB is available in both 64-bit and 32-bit versions. Its optional multi-version concurrency control (MVCC) transaction manager is optimized for multi-threaded applications running on multi-core CPUs. In McObject’s terabyte (TB) plus benchmark, eXtremeDB shows a near linear performance increase when adding processor cores and managing a 15.54 billion row, 1.17 TB database entirely in main memory.
Reliable. To maximize database durability in its mission critical application, FTIL leverages eXtremeDB’s support for transaction logging. This provides recovery capabilities for the database in the event of a system failure.
Multi-platform support. To serve the largest possible market, now and in the future, FTIL needed its database system to run on both Linux and Microsoft Windows. McObject fully supports these platforms, as well as others.
“We are happy to be associated with FTIL, which is a globally-established financial vertical solution vendor. As the case of FTIL illustrates, companies adopting eXtremeDB gain a low-latency solution as well as key strengths including scalability, reliability and standards support. McObject is increasingly active in the capital markets sector, with companies discovering that integration of eXtremeDB enables their technology to reach previously unattainable levels of performance. We are committed to providing a database solution that enables financial system developers to respond quickly and successfully to the challenges encountered in this rapidly-evolving environment,” said Chris Mureen, chief operating officer of McObject.
About Financial Technologies India, Ltd.
Financial Technologies India, Ltd. (NSE: FINANTECH, BSE: FINTEC), the flagship company of Financial Technologies Group, is among the global leaders in offering technology IP (Intellectual Property) and domain expertise to create and trade on next-generation financial markets, with solutions that are transparent, efficient and liquid across all asset classes including equities, commodities, currencies and bonds, among others.
Founded and led by high-profile Indian entrepreneur Jignesh Shah, the Group operates one of the world’s largest networks of exchanges connecting the fast-growing economies of Africa, the Middle East, India and Southeast Asia. Its network includes India’s largest commodities bourse, the Multi Commodity Exchange of India Ltd. (MCX), and two exchanges that went live in the past year: Singapore Mercantile Exchange (SMX) in Singapore and Global Board of Trade (GBOT) in Mauritius.
The Group also has six ecosystem ventures to address upstream and downstream opportunities around these exchanges, including clearing, depository, information vending and payment gateway. The business of creating and operating new-generation tech-centric financial markets allows the Group to build an unprecedented shareholder value through a non-linear business model and also help democratize global trade, transform economies and empower the common man, thereby unlocking value from the middle and bottom of the socio-economic pyramid. For more information see www.ftindia.com
Founded by embedded database and real-time systems experts, McObject offers proven data management technology that makes applications and devices smarter, more reliable and more cost-effective to develop and maintain. McObject counts among its customers industry leaders such as Dalian Commodities Exchange, Stockgroup Information Systems, BAE Systems, Siemens, Phillips, EADS, JVC, Tyco Thermal Controls, F5 Networks, CA, Motorola and Boeing. Based in Issaquah, WA, McObject is committed to providing innovative technology and first-rate services to its customers and partners.
The company can be reached at +1-425-888-8505 or online at www.mcobject.com.
McObject and eXtremeDB are registered trademarks of McObject LLC. All other company or product names mentioned herein are trademarks or registered trademarks of their respective owners.