Firms such as JPMorgan, UBS, RBS, CitiGroup, Merrill Lynch and Instinet currently use Version 3 of the Caplin Platform for electronic trading over the internet. The new scalability and functionality in Version 4 will enable these and other institutions to deliver higher-quality services to a wider audience without compromising on performance or security. The Caplin Platform handles internet-based trading and market data distribution across all asset classes, and now v4.0 delivers a level of connection quality previously achievable only via private lines.
RTTP, the messaging protocol underlying the Caplin Platform, has always been a powerful tool for rapidly developing internet trading services. Now the RTTP API has been extended to support guaranteed trade messaging, further reducing time to market and simplifying development of trading applications. Customers have previously needed to build in any guaranteed capability themselves, adding time and risk to any project, but the new enhancement removes that cost and risk to further establish Caplin as the platform of choice for internet trading solutions in Capital Markets.
Benchmark results for the messaging scalability of Liberator 4.0 show a better than 200% improvement over previous versions of the software. Over 4 million field updates per second can be delivered from a single server, and up to 30,000 clients can connect to the server at one time. Adam Hawley, Caplinâs Chief Operating Officer, says: "As price distribution and traffic volumes continue to increase and liquidity fragments, we see an increased demand for open web platforms. This unprecedented messaging scalability allows customers to add applications to their managed services without having to deploy additional infrastructure."
The new monitoring suite provides system administrators with all the tools they need to manage front-line trading services. Every component of the platform can be monitored using either the Caplin Enterprise Console or off-the-shelf JMX-compatible monitoring software, making the platform an easy fit into centrally managed environments. The Console also lets administrators probe into the heart of the Caplin Liberator, Transformer and DataSource servers in real-time, controlling data, entitlements, quality of service and availability. It also supports monitoring of the clientâs own software components.
Paul Caplin, CEO, Caplin, says: "The launch of 4.0 is in response to strong demand from the market for extremely scalable, low latency messaging technology. Our customers want to use the internet because it helps them grow quickly in a way that private lines cannot, but itâs only with Caplin that the internet becomes reliable enough for high-end DMA services. We already have customers providing advanced Fixed Income, Foreign Exchange and Equity trading services via our platform. The latest version will enable them to increase their competitive edge by offering better services to a wider audience."