Progress Software Corporation, a supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, has announced that the New York Mercantile Exchange (NYMEX), a subsidiary of NYMEX Holdings and the world’s largest physical commodities future exchange, has deployed the Progress SonicMQ distributed enterprise messaging platform to accommodate a vast increase in messaging resulting from NYME's transition from floor trading to side-by-side electronic trading. This transition enables NYMEX to support large volumes of orders, price prints and trades including up to 1.2 million contracts per day - a 38% increase in volume capacity over that previously available to the firm - and to process more than 50,000 messages per second, a tenfold increase.
In addition to increased scalability and messaging throughput, the SonicMQ advanced distributed management and deployment infrastructure will enable NYMEX to replace previously disparate messaging solutions with one enterprise messaging system, reducing ongoing management costs, according to the firm.
Prior to working with the SonicMQ product, NYMEX used a 'hub-and-spoke' solution for point-to-point messaging that lacked 'horizontal' scalability and 'fail-over' capabilities, says Progress. In unifying its messaging under SonicMQ, NYMEX has increased fault tolerance, scalability and flow control.
"We realised that the emergence of electronic trading side-by-side with floor trading, coupled with our upcoming launch of the Dubai Mercantile Exchange, meant that our current messaging system would not be enough to support our needs in the near and long term future," says Mark Francetic, vice president, software development, NYMEX. "With the SonicMQ distributed enterprise messaging platform, we can be sure not only that our messaging system will scale horizontally to meet the growing scope and volume of data, but that the platform will be continuously available," he adds.
Progress Software Corporation, a supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, has announced that the New York Mercantile Exchange (NYMEX), a subsidiary of NYMEX Holdings and the world's largest physical commodities future exchange, has deployed the Progress SonicMQ distributed enterprise messaging platform to accommodate a vast increase in messaging resulting from NYME's transition from floor trading to side-by-side electronic trading. This transition enables NYMEX to support large volumes of orders, price prints and trades including up to 1.2 million contracts per day - a 38% increase in volume capacity over that previously available to the firm - and to process more than 50,000 messages per second, a tenfold increase.
In addition to increased scalability and messaging throughput, the SonicMQ advanced distributed management and deployment infrastructure will enable NYMEX to replace previously disparate messaging solutions with one enterprise messaging system, reducing ongoing management costs, according to the firm.
Prior to working with the SonicMQ product, NYMEX used a 'hub-and-spoke' solution for point-to-point messaging that lacked 'horizontal' scalability and 'fail-over' capabilities, says Progress. In unifying its messaging under SonicMQ, NYMEX has increased fault tolerance, scalability and flow control.
"We realised that the emergence of electronic trading side-by-side with floor trading, coupled with our upcoming launch of the Dubai Mercantile Exchange, meant that our current messaging system would not be enough to support our needs in the near and long term future," says Mark Francetic, vice president, software development, NYMEX. "With the SonicMQ distributed enterprise messaging platform, we can be sure not only that our messaging system will scale horizontally to meet the growing scope and volume of data, but that the platform will be continuously available," he adds.