Buy-Side Technology Awards 2014: Best CEP Platform—Deltix

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Victor Anderson, Sebastian Kent and Brian Moore.

In the brief history of the best complex-event processing (CEP) platform category at the Buy-Side Technology Awards, One Market Data has ruled the roost, winning two of the three years since the category’s inception in 2011. This year, Deltix has knocked off the defending champion, winning the award thanks to its event-based application, QuantOffice, which performs quantitative analysis for quantitative researchers by expressing and back-testing their ideas through pre- and user-defined events. The basis for this can be market data, fundamental data, digitized news, crowd-sourced earnings estimates, Twitter, and other private and unstructured data.

“The solution is intended for fast, intelligent decision-making and trading, although not ultra-high speed trading,” says Ilya Gorelik, Deltix founder and CEO. “While it provides sub-millisecond latencies and high throughputs, it does this on standard commodity hardware, allowing it to reach a large audience of quant researchers, data scientists and traders.”

One of the major benefits of QuantOffice is that it’s powered by TimeBase, Deltix’s event-based time-series data warehouse. Combining the products allows events to be processed in several million messages per second on standard Windows-based PCs due to the fact that QuantOffice is partnered with a data server. QuantOffice also has the flexibility to be extended by end-users on their own thanks to an open and modular architecture and standard programming languages. C# development is also offered, which includes a set of libraries of complex math, time-series and statistical functions and technical indicators operated on irregular data. Clients can use set events—OnDayOpen or OnDayClose, and so on—or create their own events. Tools are also available to less tech-savvy users that develop C# code for them.

In addition to QuantOffice’s flexibility, it does not see a discrepancy between real-time and historical events, making it possible to create models based on historical data that can be used against real-time streaming data. Gorelik says that flexibility and access to a broad suite of tools is most beneficial for end-users when it comes to applying CEP to finance-specific tasks. “We see that in our market, clients are looking for solutions to problems rather than CEP in and of itself,” Gorelik says. “CEP is critical to the solution, but the key is having the whole solution including data management, data and trading connectivity, math libraries and trading and risk, as well as CEP. Then the client can focus on solving the business problem rather than integrating disparate components from different vendors.”

This year, Deltix has knocked off the defending champion, winning the award thanks to its event-based application, QuantOffice, which performs quantitative analysis for quantitative researchers by expressing and back-testing their ideas through pre- and user-defined events.
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