Roger Aitken
Roger Aitken

Building momentum Flagging new CEP initiatives within FX

With Complex Event Processing (CEP) having spread out across the asset classes – initially in equities – multiple and growing demands for using CEP in the FX space are being made among both sell-side and buy-side firms. Roger Aitken canvasses leading CEP vendors and others on the landscape.

First Published: e-Forex Magazine 36 / Features / July, 2009

The jury’s in. While the buzz around Complex Event Processing (CEP) that took hold early last year might have mellowed a tad in the wake of Lehman Brother’s demise, the fact that this very event has propelled risk management and real-time monitoring to the top of financial firms’ agendas means that prospects for CEP deployment across the capital markets – including FX – are set fair and robust. Indeed, research from analysis firm IDC, forecast last December that spending on CEP middleware would rise by over 50% annually over the next five years. Aite Group, another firm which analyses CEP in the context of FX and was probably one of the first firms to cover the technology as far back as 2000, put spending globally on CEP software across the capital markets at US$303m (c.€424m).Figure 1:CEP Expansion in Capital Markets Source:Aite Group.Estimates based on leading vendor deployments (May 2008)However, the cost of integrating CEP technology that makes up by far the largest...continued

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