Effective OMS Systems: Challenges and Solutions in Order Management
Order Management System (OMS ) is used in the financial industry to execute securities orders on a customer’s account. It must be able to handle tens of thousands of orders per second, where each order must be allowed or denied based on the risk the bank will take when/if the order is sent to the market and becomes a deal. The quality of an OMS system is assessed based on things such as the availability during the market’s opening hours, how many orders it can handle per second, how advanced risk calculation it can do and what response time it has.
In a traditional architecture with a SQL database, the bottleneck is almost always in the database itself, which is the point through which all requests must pass. Other products will inevitably be needed to manage the database, such as management of, for example, cache. This in turn leads to many different technical skill needs which in themselves can be difficult to maintain. With demands for many different technical skills, the risk of insufficient knowledge also increases. Management costs and technological complexity increase as the system and the demands on it grow. To counter the limitations of the database, a different type of architecture must be used, where the load is spread across multiple nodes in the network and where the business logic is close to the data to avoid I/O overuse.
Nextgen OMS: A Scalable And Reliable Solution For Internet Banking
Lemontree, together with one of the leading Internet banks, has built Nextgen OMS based on a grid technology, from Israeli Gigaspaces, which solves the scalability problems by saving data in memory and executing the business logic on the same node where the data resides.
This means a 100 to 1000 performance gain per request and more read and write traffic handled with ease.
The biggest gain in the technology choice has turned out to be, apart from linear scalability already mentioned, that everything is built in one programming language, that everything is operated on the same platform. Thanks to Gigaspace’s built-in HA (High Availability), Nextgen exhibits a very high availability despite possible operational disasters.
In addition, Gigaspaces offers in-memory technology with a high level of developer friendliness as all tests can be run in-memory end-to-end. After just over five years of operation at the internet bank in question, it has been shown that all trading at the internet bank is handled with ease, despite an increase in customers from 500,000 to 1,500,000 customers. The security that the internet bank can feel in that their OMS does not limit their business development makes Nextgen unique in the market and gives the internet bank advantages that few other trading banks have. Nextgen OMS is an “off the shelf” product that is available to other trading banks that want to take advantage of its next-generation architecture.
With these solutions, we close the gap between technology requirements and business requirements. You get real time – ALL the time.
Secure, scalable and proven.