By Alexa Jaworski Tervela has rolled out a platform that combines its Open Data Framework, a set of tools that provide support for open standards, applications and protocols on the New York-based companys messaging network, with a data integration application from Volante Technology. Volantes Designer software is designed to generate integration code for any system. The companies say that the joint product, dubbed Volante Designer for Tervela, will help financial firms cut down on the costs, time and risk of incorporating new applications into their trading infrastructure, as well as the latency-related operational risk caused by inefficient integrations. Tervela launched Open Data Framework last month. Volante provides protocol interoperability so that your legacy infrastructure, whether its things like existing messaging solutions or wire protocols, can all seamlessly interoperate with the Tervela message network, said Tervela founder and CEO Barry Thompson. The Tervela network is used by investment banks, hedge funds, market makers and other firms with high-volume messaging traffic. Vijay Oddiraju, CEO of Volante, noted that the new product is designed to accelerate both the implementation and the operational dynamics of the application layer, enabling customers to process volumes of data in microseconds. Designer supports the FIX protocol, the Fast protocol for high-speed delivery of market data, Swift messaging formats, XML, vendor data, binary and proprietary formats. In February, Volante, which has more than 50 financial firm and market infrastructure clients, announced that the London Stock Exchange will use Designer to integrate the International Organization for Standardization (ISO) 15022 message types transmitted over the Swift network into its global matching, reconciliation, data integration and validation service. Thompson noted that his companys relationship with Volante was established about a year ago, when it formed the Tervela Advantage Partner Program to offer integrated solutions with other vendors. Other members of the program include trading systems company FIX Flyer, execution management systems provider Portware and Celoxica, a supplier of market data technology. According to Tervela, the Open Data Framework includes support for evolving standards such as the advanced message queuing protocol (AMQP), which is designed to offer an open-source alternative to products like IBM Corp.s WebSphere MQ and Tibco Softwares Rendezvous. Earlier this year, Tervela joined the AMQP working group that is helping to advance the acceptance of the protocol, which is slated to go live in the third quarter. Open Data Framework provides a growing, interoperable ecosystem that further extends the Tervela message network to meet evolving market requirements for scalable, future-ready solutions, said Thompson when the platform was announced. Customers benefit, he added, because it significantly reduces data center footprints and integrates easily with new and emerging industry standards. This article can also be found at SecuritiesIndustry.com.
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