Financial Transaction Control System Completes 500,000 Transactions in a Second in Benchmark with GigaSpaces and Intel
London, December 3, 2012, Gresham Computing plc, a leading provider of transaction control solutions to international financial institutions, today announced that its reconciliation solution Clareti Transaction Control (CTC) has demonstrated it can process 500,000 transactions per second using ‘in memory’ matching. The ability to manage extreme processing in-memory is a key component of the GigaSpaces XAP solution that Gresham used as a foundation for the transactional control solutions.
This industry-leading, benchmarked performance, equivalent to 1.8 billion transactions per hour, was achieved by running the application in a pure data and compute GigaSpaces grid with no database attached. The achievement, recorded in extensive testing with Intel and GigaSpaces, dwarfs the unprecedented benchmark of 50,000 transactions per second CTC set earlier this year when using a database for reading and writing the data.
“The high performance achieved during this most recent benchmark shows that CTC can be used in extremely high-volume, low-latency environments to give operational certainty to financial organisations and infrastructure providers conducting billions of transactions per hour in fast-moving markets,” said Neil Vernon, Development Director, Gresham Computing plc. “CTC’s flexibility allows it to be optimised to operate in two modes: pure in-grid (in-memory) matching where CTC is used as a real-time service for the most exacting trading environments; and with a full database attached allowing a throughput of 50,000 transactions per second with all transactions written to the database.”
The tests were conducted ion the Intel® Xeon® Processor E7 family, at Intel’s Computing lab in Reading, United Kingdom. All tests were executed multiple times to ensure repeatability and to calculate an average result. Gresham used a test data set of 150 million transactions and modelled the data on a two-sided intersystem equity trade reconciliation. The match profile consisted of many-to-many matches, many-to-one matches, one-to-one exceptions and a proportion of the transactions left unmatched as singleton records.
CTC was built using the GigaSpaces XAP elastic application platform as an integral part of its infrastructure. XAP is geared for big data, employing an in-memory data grid for tremendous processing speed, ‘share-nothing’ partitioning for reliability and consistency, and event-driven architecture that enables real-time processing of massive event streams and unlimited processing scalability. With CTC, organisations can rapidly replace existing manual and semi-automatic internal controls with automated controls, secure in the knowledge that CTC can easily scale to cope with higher volumes in the case of future growth or consolidation.
“The ability to process massive amounts of data in real-time from multiple sources, , while also retaining transactionality, scalability, and high availability is the IT holy grail for many financial services enterprises,” said Nati Shalom, CTO of GigaSpaces Technologies. “GigaSpaces in-memory technology integrates seamlessly with Big Data products, such as the NoSQL datastores employed by Gresham's CTC, to create a powerful and high-speed platform. The ACID transactions, real-time event processing and elasticity of both processing and data all come at a fraction of the cost compared to traditional approaches. Gresham and GigaSpaces have collaborated for more than five years, staying ahead of the Big Data curve by anticipating market requirements and trends to deliver forward thinking solutions.”
About Clareti Transaction Control
Gresham’s Clareti Transaction Control solution (CTC) enables customers to quickly and accurately identify and resolve operational risks, reduce financial transaction loss events, optimize business performance, and comply with regulatory requirements. Gresham’s approach allows real-time, business driven controls to be put in place as soon as a new financial product is created. This means any errors can be identified and rectified from the start (T+0), preventing potential discrepancies or loss events. Unless controls are put in place at the beginning, errors will often only come to light much later in the transaction lifecycle, for example, after the trade has been completed and an error is identified during the nostro reconciliation process.
Based on the latest technology, Gresham’s solution offers maximum flexibility and adaptability to respond to changing needs. This is in complete contrast to legacy hard-coded systems which are cumbersome, costly and time consuming to change.
GigaSpaces Technologies is the pioneer of a new generation of application virtualization platforms and a leading provider of end-to-end scaling solutions for distributed, mission-critical application environments, and cloud enabling technologies. GigaSpaces is the only platform on the market that offers truly silo-free architecture, along with operational agility and openness, delivering enhanced efficiency, extreme performance and always-on availability. The GigaSpaces solutions are designed from the ground up to run on any cloud environment – private, public, or hybrid – and offer a pain-free, evolutionary path to meet tomorrow’s IT challenges. Hundreds of organizations worldwide use GigaSpaces’ technology to enhance IT efficiency and performance, among which are Fortune Global 500 companies, including top financial service enterprises, e-commerce companies, online gaming providers, and telecom carriers. For more information, visit www.gigaspaces.com, or our blog at blog.gigaspaces.com.
About Gresham Computing
Gresham Computing plc is a leading provider of software solutions to international financial institutions and is listed on the main market of the London Stock Exchange (GHT.L). We service over 100 major blue-chip customers, many of whom have been customers for over thirty years. Our customers include several of the world’s largest financial institutions, served locally from offices located in Europe, North America and Asia.