introduction to c24. © 2014 c24 technologiesconfidential information of c24 technologies ltd....

Introduction to C24

© 2014 C24 Technologies Confidential Information of C24 Technologies Ltd.

Agenda

Confidential Information of C24 Technologies Ltd.

• C24 - Background & History

• C24 iO - Introduction

• C24 iO – Case Studies

• C24 Roadmap

© 2014 C24 Technologies Confidential Information of C24 Technologies Ltd. © 2014 C24 Technologies Confidential Information of C24 Technologies Ltd.

C24 Technologies Ltd.

•Founded in 2000 in London

•Launched C24 Integration Objects (C24-iO) in 2002

•Roster of 35+ blue-chip FS clients

•Specialists in standards-based financial messaging and integration solutions

•Privately-owned

•No external funding

Who Are C24?

© 2014 C24 Technologies Confidential Information of C24 TechnologiesConfidential Information of C24 Technologies Ltd.

Some C24 customers…


Agenda



• C24 iO – Product Introduction


• C24 Roadmap


•A Java Binding Tool•C24-iO provides a data modeling and rule definition

environment•Models and rules are bound to Java Code at deploy time•Models and rules run as POJOs inside any JVM environment

What is C24-iO?

Deploy


•A Metadata Management Repository•Models and rules are versioned•Models and rules can be integrated with source control•Models and rules can be documented•Models can be imported from external metadata•Models can be exported out in multiple metadata formats

What is C24-iO?

V1.3V1.2

V1.1V1.0

CVS

RationalClearCase

Import

ExportXML schemaJSON schema

HTML


•A Messaging & Integration Toolkit•Libraries of Pre-Built Message Standards = Data Models•Rich transformation capabilities, abstracted from wire format•Transport- and infrastructure-agnostic

What is C24-iO?

Incoming Data

“From”Model(s)

TransformedData

“To”Model(s)

WireFormat-SpecificSources

WireFormat-SpecificSinks

MappingRules


Product Overview

Deploy

Plu

g-I

n

Parse

Validate

Transform

Marshal

Source Messages

Target Messages

Design Time Runtime


Typical Usage

Confidential Information of C24 Technologies

7

Import or model any data formatsXML Schema, DTD, XML, Relax-NG, RDBMS, Java Classes, Text Files, Tag/Value, Delimited (CSV), Fixed, Binary, Proprietary Canonical Formats

Choose from hundreds of pre-modelled Standards

SWIFT-MT, SWIFT-MX, ISO-20022, SEPA, FIX, FpML, DTCC, MINOS, CBI

Create and manage syntactic & semantic validation rulesFlexible technology, Java-based, Full XPath 2.0 support, Scala, Groovy, Clojure etc.

Compare models & manage versionsGraphical hierarchical comparison

For DevelopersBound Java Objects

Fully Documented API

Getters / Setters

XPath & XQuery API

Thousands of JUnit tests

ANT & Maven Build for C.I.

Integration with Camel / Fuse, Spring Integration / Batch, Mule, GemFire, GigaSpace, Coherence, Oracle, MongoDB and others

ProductionFully tested JAR

For Business AnalystsA Powerful GUI for managing, modelling and transformation

Export Documents & Reports


SWIFT Example (MT564)


Transformation Example


•Advanced support for EAI / SOA integration•Spring Integration / Batch / Data, Mule, Fuse, Camel, Oracle, WebSphere etc.

•Integration into RDBMSs (Oracle, Sybase etc.)•NoSQL / BigData solutions (MongoDB, Redis, MarkLogic,

CouchBase etc.)•In-memory grid/cache (Coherence, GemFire, GigaSpaces,

HazelCast etc.)

•Typical usage…

Third-party integration


Standards Libraries

SWIFTNet FIN

FpMLSWIFTNet Solutions (MX)

FIX & FixMLDTCC

ISO 20022

•Standards Libraries•C24 implementations of key financial services data standards•Available to iO Studio as separate plug-ins•Fully tested (1,000s of unit tests run in our CI environment)•FpML 5.x all views, all validation rules•Fully maintained in synchronization with updates to standard•Encompass base data type dictionaries, wire-format syntaxes and

semantic validation rules - all pre-built•Can be used standalone out-of-the-box or extended for specialist usage


Agenda





• C24 Roadmap


Context: Securities Clearing and Settlement STPC24 Solution: C24-iO and SWIFTNet FIN Standards Library

• Securities Lending STP: A leading European retail and institutional fund manager needed to rapidly automate its securities lending processes by adding new Securities (MT5nn) message flows to support a new Stock Lending application solution: The fund manager was able to achieve $10M in new business through first mover advantage while significantly lowering the risk of failed transactions.

• Corporate Actions STP: A custodian with over $2 trillion in client assets had a corporate actions compliance issue due to changing messaging standards. The custodian was able to significantly reduce the risk of corporate actions failures by using the C24-iO technology within an internally developed Corporate Actions processing solution. The C24-iO technology usage was subsequently extended to cover all securities, settlement and payment messaging flows within the middleware architecture. Using C24-iO achieved significant benefits in improved STP rates, and reduced internal development costs for ongoing annual SWIFT Standards Release maintenance updates.

• Clearing and Settlement STP: A leading European bank with large operations in Europe and North America needed to migrate to ISO15022-based SWIFT messages to continuing trading with partners “The ability to take SWIFT message libraries off the shelf and rapidly deploy them as Java components within our own environment was a key factor in our overall support strategy. The first phase of the project was completed on time and budget, and will form the basis for our technical integration strategy going forward.” -Lead Architect.

• Clearing and Settlement STP: A provider of clearing and settlement services to European institutional clients based in Germany has been using the C24-iO technology for SWIFTNet FIN/ISO15022 messaging integration since 2002. All other transaction processing systems have changed during this time, with C24-iO being the only technology solution in continuous use.


Context: Securities Services STP C24 Solution: C24-iO and Standards Libraries for SWIFTNet FIN,

FIX/FIXML, and FpML

• Hedge Funds and Wealth Management Institutional Client Services: A leading North American Securities Services provider needed to quickly deploy and integrate a number of messaging services for onboarding new Hedge Fund and Asset/Fund Management institutional clients. The scope is automated equities and derivatives clearing and settlement, portfolio management and accounting services for institutional clients. The project included the design of normalized internal data models, and the development and testing of transaction flows between key existing application logic. The project was delivered on-time within the budget – thus meeting the client onboarding requirements.

• Provision of Clearing and Settlement services for equities to institutional clients using legacy ISO 7775 as well as ISO15022 messaging automation. The C24-iO technology is used as the application level messaging support for a transaction manager gateway development. The transaction manager supports on SWIFT “on-net” messaging services, and also “off-net” messaging of the legacy ISO7775 message standards for use over the customers private global network.

• Global Clearing and Settlement Services for Hedge Funds: A major global clearing and settlement services provider started using the C24-iO technology as a key integration component in a new clearing platform that was rolled out in 2011. C24-iO is used for normalize trade and allocation confirmations into internal data models using within the processing middleware and application logic. The initial roll out was based on the Chicago Merchantile Exchange (CME), extended to cover the Deutsche Borse Eurex market, and will be extended to other markets as the new platform is rolled out. The C24-iO meta-data management, industry standards libraries, transformation definition capabilities are used by the teams in Chicago and London to save time both in the roll out of the platform, and in the ongoing maintenance of the middleware integration layer.


Context: ISO20022 Adoption C24 Solution: C24-iO with Standards Libraries for SWIFTNet

FUNDS and SEPA

• SWIFTNet FUNDS. A leading European Fund Manager with large operations in Europe and North America needed to migrate to ISO20022 SWIFTNet Funds messaging to support Fund of Funds, and Funds Order flow messaging with other Fund managers with whom they have portfolio management relationships. The ISO20022 Investment Funds message standards are new, and as a major market participant they mandated adoption by their counterparties. They therefore extended the existing C24-iO usage of SWIFTNet FIN to include SWIFTNet Funds. This enabled them to work with a proven integration technology for which they already had the required internal skills, and successfully and quickly deploy the Funds messages flow in support of the business.

• ISO 20022/pain and pacs/ SEPA variants: The finance arm of a major European automobile manufacturer. The Single Euro Payments Area (SEPA) mandate requires use of the European Payments Council (EPC) specialisations of the ISO20022 payment initiation and payment clearing message standards. This finance firm selected the C24-iO technology to integrate between legacy national payment schemes in France and other European countries, and the new mandated SEPA ISO20022 based standards. The C24-iO solutions are deployments to bridge between legacy applications that are only capable of supporting the legacy national payment scheme standards, and the mandated SEPA business to business standards.


Context: OTC Derivatives STP AutomationC24 Solution: C24-iO and Standards Libraries for SWIFTNet

FpML, FpML, DTCC and MarkIT/SwapsWire

• Clearing and Settlement of OTC Derivatives: A derivatives trades clearing and settlement provider needed to double the volume of OTC derivatives contracts processed each month, reduce overall error rates/increase STP rates, yet maintain current costs. This project required higher levels of automation on a more performant integration platform than the existing hand generated coded systems. C24-iO was used as the integration tool of choice for this new platform. The successful result was increased derivatives market share and improved organizational efficiencies.

• Institutional Investment Manager: An institutional investment manager needed to improve straight-through processing rates across trading, compliance, risk, portfolio management, and accounting systems. This C24 Customer is now able to model and enter a block OTC derivative trade and have the trade information disseminated to the rest of the firm in FpML, then routed to DTCC TIW or SwapsWire for confirmation, and then converted to SWIFTNet Derivatives for custodian notification.


Agenda





• C24 Roadmap

© 2014 C24 Technologies Confidential Information of C24 Technologies Ltd. © 2014 C24 Technologies Confidential Information of C24 Technologies Ltd.

Depth: Messaging Standards Tools and Technology

•Tracking and promoting standards adoption around ISO 20022, FIX, and FpML

•Supporting the base messaging Standards, and utility/industry variants

•Breadth: Advanced integration – BIG DATA made small

•The new C24-iO Simple-Data-Objects (“SDO”) technology

•More… http://www.c24.biz/simple-data-objects.html

C24 Roadmap

http://www.c24.biz/simple-data-objects.html

http://www.c24.biz/simple-data-objects.html


ISO 20022 Is The Future


C24-iO SDO’s

Introducing C24 Simple Data Objects

Run Lean - 10X Faster And 20X Smaller

What if you could jump 4 years of Moore's Law?

What if you could reduce your infrastructure costs by a factor of 10X?


•Typically Java Binding tools, like JAXB, JiBX and C24 create Java that looks like the data source

•While this is very convenient for the programmers it creates a lot of Java objects, this slowly consumes memory

•A typical FpML trade is around 8k in size, bind it to Java and it increases to around 25k

•1 million FpML message in memory is going to cost anything from 8 to 25GB of RAM, add (HA) high availability and we hit 50GB•Expensive!•In-memory is still fast but 25k message over the network is

very slow•And 25GB of data over a network or onto disk, even SSD is

slow

Java Binding & Memory


•SDOs or Simple Data Objects are basically Java Binding into a compact binary codec - From any XML format to binary

•We analyse the data model (or XML schema) not just the instance data so can do things like…•Reducing the 7 days of the week to just 3 bits•Commonly used Strings become lookups into a static table (1

or 2 bytes)•Currencies for example only need 1 byte•Date/Time with timezone can be stored in 6 bytes

•Bit-fields are compacted resulting in excellent compaction-ratios•Getters calculate the offset on the fly, mask and shift the

data and return it

•There is NO change to the getter API between standard binding and SDOs

SDOs


Performance

Size

How it works

Or any XML message

C24 Parser(Classic Java

API)

C24 Validation (Optional step)

SDO Sink(Converts CDO

to SDO)

XML

Full C24 CDO API(Getters, setters, rules,

validation & transformation)

Full C24 SDO API(Getters only)

SDO API(to binary

FpML)SDO Source

(Converts SDO to CDO)

~5-8k 10-25k < 500 bytes

10k/sec ~1m/sec ~1m/sec

Identical APIs(for getters)


•Works with any XML schema with no change to APIs

•Performance of SDO over the network and to persistent storage is significantly faster (10+ times)

•Memory usage is significantly better (20+ times)•This results in massive cost savings in infrastructure licensing

•Highly tuned for performance - Virtually no garbage collection•SDOs use C-like code in getters resulting in zero object

creation

•Designed to work with in-memory grids•Coherence, GemFire, GigaSpaces, Hazelcast, EhCache, Redis

etc.•Over 10 times more efficient than built-in memory grid

compaction•Over 100 times faster than compression like zip & gzip etc.

Advantages of SDOs


http://www.c24.biz/resources.html

© 2014 C24 Technologies Confidential Information of C24 TechnologiesConfidential Information of C24 Technologies Ltd.Confidential Information of C24 Technologies

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