New York, February 21, 2006 â In an interactive panel discussion sponsored by GemStone Systems on February 8, a panel of experts provided insight into the distinct data management challenges facing the financial services industry, as well as new technologies available to combat these issues. The four panelists for the inaugural EDF Forum were: Buzz Moschetti, Chief Architecture Officer, Bear Stearns (NYSE: BSC); Robert J. Ortega, VP, IT Strategy and Architecture, Wachovia Corporate Investment Bank; Larry Tabb, Founder and CEO, TABB Group; and Peter Krey, Architect, JPMorgan Chase. Shankar Iyer, Executive Vice President of Marketing and Strategy for GemStone Systems, moderated the panel.
Recent technology trends have forced those in the financial arena to view infrastructure in a new light. As market data volumes increase substantially and new compliance regulations such as Reg NMS and MiFiD impose significant challenges on the industry, firms must adopt a data infrastructure that can effectively manage intricate sources and streams of data in a distributed, scalable fashion. Data must be accessed, shared and distributed to multiple applications and processes instantaneously in order for firms to remain competitive and effectively support their customers. Financial services organizations today require a solution that can simultaneously retrieve, manage and route critical market data in real-time, reducing latency while intelligently leveraging existing technology assets.
âThe adoption of algorithmic trading systems means trades are being made at almost the speed of light,â noted Larry Tabb, Founder and CEO, TABB Group. âTo effectively leverage such systems requires data accessibility that operates at similar speeds. Traditional data management systems cannot process information requests at such high speeds. In order to achieve the necessary real-time operations, firms must employ a solution that provides a high speed, in memory data fabric to instantaneously integrate and route data from different systems and applications.â
Challenges created by disparate legacy systems and multiple data formats combined with the advent of Service Oriented Architectures (SOAs) and grid computing can often lead to significant data bottlenecks and latency issues. As more and more enterprises realize the benefits of de-coupling applications and reusing them as shared services, they must employ a data fabric that can virtualize data across applications, store data in-memory, and reconcile data with backend systems to ensure consistency and immediate availability to all applications.
âTo remain competitive today, organizations must pursue a more advanced approach to data management,â said Shankar Iyer, EVP of Strategy and Marketing, GemStone Systems. âAn enterprise data fabric provides companies with the sophisticated, scalable and distributed data infrastructure required to quickly meet their strategic objectives, expanding with their business and significantly improving productivity and profitability.â