Hazelcast IMDG accelerates Financial Market Data access For Investment Banking
Company Size
1,000+
Region
- Pacific
Country
- Australia
Product
- Hazelcast IMDG
- Redis
- Coherence
- Terracotta
Tech Stack
- Java
- Scala
- Node.js
- Python
- .NET
- C++
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Analytics & Modeling - Real Time Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
- Application Infrastructure & Middleware - Database Management & Storage
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Predictive Maintenance
- Real-Time Location System (RTLS)
- Remote Asset Management
Services
- Software Design & Engineering Services
- System Integration
About The Customer
National Australia Bank (NAB) is one of the largest financial institutions in Australia, providing a wide range of banking and financial services. NAB was looking for a replacement for their existing Ehcache-based solution to cache session objects for their API gateway. The existing solution was neither scalable nor capable of providing stable uptime. All digital channels, from mobile to Internet Banking, as well as other groups, access backend systems through this API gateway. The gateway provides security, threat perception, and transformation. NAB evaluated Hazelcast IMDG and Redis, ultimately choosing Hazelcast IMDG for its elasticity, scalability, and highly available distributed solution. NAB has two Hazelcast clusters across two data centers, kept in sync using WAN Replication from Hazelcast IMDG Enterprise.
The Challenge
Market Data systems in investment banking require the ability to onboard new data feeds quickly and efficiently. Traditional relational databases and NoSQL solutions often fall short due to their reliance on disk-based storage, leading to poor application query performance and unacceptable online customer experiences. Integrating multiple market data feeds without impacting existing throughput is critical, but schema changes in RDBMS can introduce narrow maintenance windows and system impacts. Additionally, trading desk systems demand low latency access to data, which is often measured in microseconds. The complexity and high cost of maintaining these data feeds can stifle innovation and lead to duplication of efforts across multiple development teams.
The Solution
Hazelcast IMDG was chosen as the ideal solution for NAB's needs. Hazelcast uses a single standard Java API and provides native language clients for Java, Scala, Node.js, Python, .NET, and C++, as well as an Open Client network Protocol for building any other native language client needed. Hazelcast is a schema-less in-memory data store, approximately 1,000 times faster than RDBMS, achieving query and update times measured in microseconds for high volumes of data. This allows for the quick and easy integration of multiple market data feeds without impacting existing throughput. Hazelcast's unique in-memory management drastically narrows latency volatility to levels unachievable with NoSQL and RDBMS systems. With Hazelcast IMDG, ROI can be achieved through reduced data integration effort, maximization of economies of scale in terms of memory utilization, and ongoing operational costs, both in terms of hardware and software.
Operational Impact
Quantitative Benefit
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