CW Developer Network

Sep 5 2012   5:12AM GMT

What makes financial software worth the money?

Adrian Bridgwater Adrian Bridgwater Profile: Adrian Bridgwater

Tags:
CEP
Financial
progress

Like most verticals, software application development for the financial market is characterised by a number of key criteria and data behaviour types that make it “unique” (although we use the term carefully) in terms of form and function.

Proof point of the week comes from Progress Software who has partnered with Mootwin, a “context-aware” mobile application specialist to enhance its stock-alert features in its banking and finance-oriented solution.

Mootwin will use the Progress Apama Complex Event Processing (CEP) platform to monitor and analyse the securities markets as well as enhance the real-time capabilities of the stock-alert feature within its trading application.

Complex events & triggering events

Mootwin will use the Apama CEP platform to correlate multiple data and “triggering events” in financial markets.

So — multiple data types within complex events analysed by massively powerful processing engines directed at look for further triggering events. This is, in a sense, financial software development in one sentence.

According to a press statement from Progress, “Subscribers of the Mootwin mobile application and service will be able to select a variety of analytical options and graphical displays that best suits them. Based on individual preferences, users can also set up personalised notifications that alert them to trading opportunities or events, almost instantly.”

What makes financial software worth the money then?

This software has to be able to act and react upon data and “events” (complex ones) in real time and provide context-aware analysis of the data in hand.

Where Progress is (arguably) most interesting here is in its data management technology. This “captures and replays event streams” and this allows financial analysts to do what they do, whatever that doing actually is.

NOTE: Complex event processing (CEP) is the use of technology to predict high-level events likely to result from specific sets of low-level factors. CEP identifies and analyzes cause-and-effect relationships among events in real time, allowing personnel to proactively take effective actions in response to specific scenarios. CEP is an evolving paradigm originally conceived in the 1990s by Dr. David Luckham at Stanford University.

1  Comment on this Post

 
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  • mariakatosvich

    You could track your finances for free using a pad and pen—or an
    Excel spreadsheet. But the tedium of doing so could result in mistakes
    and make you give up.


    Money-management software organizes your day-to-day financial life in
    a way that’s easy to grasp at a glance and automatically updates much
    of the data.


    Even if you use a certified financial planner (CFP) or financial
    adviser, these experts focus on the big picture, not your day-to-day
    money matters. So money management software is still key for tracking
    your financial life.


    If you employ a certified public accountant (CPA) for ongoing tax
    advice or a tax preparer for your returns, tax-prep software may be
    unnecessary. However, if you’re unsure whether software would be a less
    expensive alternative to your tax preparer, you can conduct a free trial
    of a tax-prep program (usually available on the maker’s Web site) to
    see how your results compare with professional help before making the
    switch.

    There are dozens of money-management and tax-prep software
    programs on the market. Some are downloads or discs that are installed
    on your computer. Others are web-based and house your data online. Take
    an online tour or download a free trial version before making a
    purchase.
    Thanks
    https://www.linkedin.com/company/redgage-llc
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