CASE STUDY

Tier-1 Bank Expands Low-Latency Markets Platform Across 50 Projects

Market-leading financial institution with unmatched global trading
presence in 80+ countries supporting corporates, institutional investors and governments.

CHALLENGE

Need for Speed and Robustness

Chronicle Software initially assisted the bank's Direct Market Access (DMA) team with their need for a FIX Engine, and to leverage Chronicle's expertise in low-latency, deterministic messaging frameworks to establish a robust microservices architecture.

This partnership led to the development and implementation of several innovative design ideas around deterministic low-latency microservices. These advancements have now been widely rolled out across numerous teams bank-wide.

SOLUTION

Chronicle FIX

After collaborative discussions, this client deployed Chronicle FIX; our performance-optimised, full-feature, asset class agnostic FIX engine.

The FIX engine seamlessly integrates with custom Microservices, including EFX components and Chronicle's Matching Engine.

In addition to satisfying the client’s overarching latency and throughput requirements, Chronicle’s solution also delivered:

Faster and more reliable pricing, auto hedging, order management and market connectivity
Support for MiFID II-compliant transaction reporting fields
Support for all FIX versions including custom schemas
Low garbage and numerous performance optimisations
Scalability across multiple connections with minimal latency impact
High Performance tested to system limits
Optimised networking with Solarflare network cards

The way to do high performance microservices."

- Global Head of

Trading Architecture

The way to do high performance microservices."

- Global Head of

Trading Architecture

RESULTS

Low-Latency and Reliable Trading Solution

Chronicle Software partnered with a bank to modernise its legacy monolithic applications by transitioning to a microservices architecture, with the goal to boost speed and accuracy for institutional clients, eliminate REST bottlenecks and enable high-performance event-driven operations.

Their new system was designed for deployment on-premises or in private "micro-clouds”. It also utilised in-memory IPC, combined the Lambda Architecture with private state storage for enhanced reliability, and leveraged bare metal containers for the rapid delivery of a low-latency trading application.

By integrating with existing infrastructure, low-latency event-driven microservices and container technologies were adopted to establish a high-performance trading system. Our software and approach has since been expanded out to around 50 other projects.