The Tervela platform is a hybrid of networking and middleware technologies designed to meet the scalability, stability and speed requirements financial institutions need to increase trade profitability and operational performance. By placing hardware at the core of the platform, Tervela provides the bulletproof stability of big iron with the speed, adaptability and scalability of software.
âCurrent solutions are inadequate for todayâs volumes and unprepared for tomorrowâs,â said J. Barry Thompson, CEO, Tervela. âTervela operates as a routing layer on top of existing networks, pushing application and middleware logic into the network layer and solving the performance, latency and capacity problems that software-based systems simply canât address.â
The platform is built on the companyâs TVA-1000 messaging appliance. The appliance brings an unprecedented level of stability to trading environments by eliminating multicast storms, dynamically adapting to message traffic changes brought on by market volatility, and ensuring predictable performance - even in peak volume periods. Tervela provides both departmental solutions and enterprise-wide footprints with hardware appliance and network cloud configurability to deliver up to 20 million messages per second at 99.999 percent reliability. The company has seen a 10x â 100x performance increase over legacy platforms in customer production environments.
"Some enterprises are experiencing messaging volumes that are reaching or have exceeded the abilities of traditional, server-based message-oriented middleware (MOM) -- or they just plain need faster processing speeds. As a result, they are hungry for innovation," according to Maureen Fleming, program director of IDCâs Business Process Integration & Deployment
Software service. "With the inherent speed and dedicated design toward solving problems around translation of messages, efficient routing and reliability, MOM appliances may well be exactly what the market needs to solve these problems," she added.
Features of the platform include:
â¢ Ultra-low latency â even during peak volatility periods when software-only solutions experience huge spikes in latency
â¢ High capacity â intelligently filter and route data in a cloud configuration that can scale to tens of millions of events per second
â¢ High fan-out â to hundreds of subscribers without the complexity or manageability issues of legacy approaches
â¢ Seamless support for LAN/WAN/Infiniband â getting clients closer to wire speed than any other solution provider by operating at a native level within the network fabric
â¢ High availability â built-in fault tolerance to prevent system failures which are becoming increasingly common during high volume trading
â¢ Centralized management â visibility into the entire connected application and messaging ecosystem allowing firms to automatically detect networking and application instabilities, allowing for rapid issue correction or avoidance â enabling service levels not possible before Tervela
â¢ Simple, self-contained environment â allowing Tervela to be deployed alongside traditional solutions, leveraging a firmâs investment in current technologies while building a platform for the future
â¢ Future-proof platform design â allows clients to utilize existing application architectures while realizing major reductions in total cost of ownership and data center footprints
The company has been working in stealth mode since 2004 with engagements at nearly a dozen of the worldâs largest investment banks, hedge funds and liquidity pools. In June 2007, it received a $20 million Series C round of funding from Acartha, Sigma Partners, Goldman Sachs and North Hill Venture Partners.
Market data volumes are growing at rates which outpace todayâs software and commodity hardware solutions. Options data, the most extreme example of exploding trade volume in the financial services markets, is expected to exceed 900,000 messages per second in 2008 â more than double what it is today. Many of todayâs trading systems are built on antiquated architectures that wonât scale to meet these demands.