Cloud-native app opens new markets

Cloud

Cloud-native app opens new markets

A prominent bonds trading network expands its market reach with new products and geographies.

Client

The world’s leading provider of trading services for fixed income products

Goal

Create an IT architecture to support growth across markets and products

Tools and technologies

AWS Cloud, Java, Springboot, React JS, React, Redis, Kafka, C#, Ranorex and Test Rails

BUSINESS CHALLENGE

The client, a market leader in bonds trading, is expanding to new markets, acquiring new businesses, introducing products and adding features to existing offerings. To support its growth plans, it needed an agile, modern, cloud-based platform.

Some of the business needs the client wanted to address with the new solution were:

  • How do we achieve scale with minimal latency in operations and service?
  • How do we integrate new businesses seamlessly and without disruption?
  • How do we roll out new features faster to improve customer experience and get a competitive edge?
  • How can we use data to help customers make better trading decisions? How can we monetize the data?

As a solution partner, we had to not only create a new IT architecture for the client’s trading platform but also constantly re-engineer and improve the architecture to quickly meet emerging business needs.

SOLUTION

We deployed a scalable, highly available auctions solution on the AWS cloud using Java, Springboot, React JS, React, Redis, and Kafka.

  • Optimized algorithms now achieve best matching with minimal latency while offering full price transparency.
  • Artificial intelligence (AI) and machine learning (ML) provide greater insight and real-time price discovery for specific asset classes.

The new cloud-based architecture enabled the client to create products and monetize market data. The products helped customers get accurate data in real-time to take better and faster trading decisions.

Test automation across the trade lifecycle using a combination of C#, Ranorex, Test Rails helped the client update user interfaces (UI) without reducing performance; it eased integration linkages between the acquired solution’s frontend and the client’s existing backend.

OUTCOMES

The introduction of Agile methodology and the cloud-native application has helped the client significantly speed up time-to-market for new releases – it’s now able to make releases several times a year.

The new IT architecture now allows the client to offer trading in Muni bonds (an acquired product) and US treasuries (a new service). The solution also enables the client to support Chinese markets.

Related Stories

How to transform your risk reporting mechanisms

A future-ready risk reporting platform helped a leading brokerage firm improve its user interfaces and lower costs.

Learn more

The power of in-sprint automation

A large securities firm speeds up time-to-market with end-to-end test automation on the cloud.

Learn more

A legacy portfolio gets a makeover

How one of the Big Four advisory firms turned around an under-performing, high-cost application portfolio to meet growing needs.

Learn more

Contact

Our experts can help you find the right customized solutions to meet your needs

Get in touch

Setting a high standard for member experience

Standards & Membership

Setting a standard for member experience

We helped a global standards organization build a cloud-native micro services-based platform to store and share data on billions of products with members.

Client

One of the world’s leading retail standards organizations.

Goal

Build a 24x7 cloud-based platform capable of storing and sharing data on billions of products.

Tools and technologies

Java, Python, NodeJS, .NET, Azure PostgreSQL, Azure SQL, MongoDB, Redis, Azure DevOps, Pipelines, Git, Docker, Kubernetes, Azure App Service.

BUSINESS CHALLENGE

Our client is a global standards organization. Its products and codes are used by millions of brand owners, retailers and supply chain partners around the world.

The organization needed an always on, scalable cloud-based platform capable of storing and sharing data on billions of products and related information with members and partners across the world.

The client also wanted the ability to onboard member organizations quickly and seamlessly.

They wanted the business capabilities developed on platform to be available as modern and secure enterprise-level APIs.

SOLUTION

Iris chose a microservices architecture for high agility, loose coupling, independent deployability and maintainability.

We followed an API design-first approach and designed according to the standards-based API specification (OpenAPI Specification).

In line with best practices for securely publishing and maintaining APIs, our team deployed the Azure API management solution. We used Azure APIM developer portal to deliver a superior developer onboarding experience. The solution had other features as well:

  • Design and implementation of the Azure Virtual network for securely hosting the platform
  • A cloud-native architecture using the Azure AppService and an Azure-managed Kubernetes platform.
  • Comprehensive performance testing and optimization at all levels to meet strict SLAs
  • Security testing and vulnerability assessment to ensure secure APIs

OUTCOMES

  • A robust and secure API platform that handles 200,000 API requests per day
  • 50 million codes uploaded in 40 product categories across more than 130 countries
  • Delivered a developer portal for quick on-boarding of MOs and application developers
  • New 7-step verification mechanism led to creation of new revenue streams

Related Stories

Cloud-native app opens new markets

A leading bonds trading network revamps its IT architecture to increase market reach.

Learn more

Contact

Our experts can help you find the right solutions to meet your needs.

Get in touch
Copyright © 2021 Iris Software, Inc. All rights reserved