MongoDB Architecture Released
—Stamford, CT—Elysium Technology Group (ETG), an innovator in exceptional real time technology solutions, redesigned the architecture of their MPTracker Suite of Products with MongoDB, a first in the Foreign Exchange industry. They envisioned leveraging technology that large scale transaction based businesses like Foursquare and TopTwitterTrends rely on for their day to day business operations.
“Typically you don’t hear about the Foreign Exchange and social networking businesses using the same technology platform.” said Mark Rosenfeld, CTO of ETG. “We made a pioneering decision over 10 years ago that a trading business should operate in the cloud, which is all you hear about on business television today. We’ve always embraced new ideas and kept a close watch on new technology outside our own world. Evolving businesses require breakthrough technology. We consider ourselves innovators and we strive to re-invent ourselves and our products to meet the uncompromising requirements of our clients.”
Ed Mount and Andy Siciliano uncovered a real business need while running a private trading operation in 2002. They searched third party vendors and traditional banks for software services for their business. “We found a dearth of availability for systems specific to the Foreign Exchange, yet flexible enough to grow with our firm at an affordable price,” said Ed Mount, President and CEO of ETG. Development for MPTracker was soon on its way. Mount, a practiced trader with experience managing large derivative businesses, structured the architecture of the original MPTracker from a front office perspective, while including forward-thinking planning to adapt to the ever-changing reporting requirements of a first rate trading business.
The MPTracker Suite of Products provides complete FX post-trade processing, risk management, and customized client reporting to institutional FX market participants including Hedge Funds, Banks, Asset Managers, CTA’s and Proprietary Trading Firms. MPTracker Version 3.0 can handle over 100,000 daily transactions for one client thanks in part to the powerhouse of MongoDB.
MongoDB (from “humongous”) is a scalable, high-performance, open source, document-oriented database. The core design of MongoDB aligns impeccably with the strong values of Elysium Technology Group and their products: exceptional performance, agile development and speed.
“Three months ago we were discussing enhancements for MPTracker over coffee and I started taking notes on my napkin,” said Lo Shih, VP, Enterprise Software at Elysium Technology Group. “The idea of nimble technology that could handle billions of transactions got me thinking about a whole new way to structure our backend. We built MPTracker from the ground up and so I know all of the moving pieces; MongoDB allows us to put a first class application at our clients’ fingertips.” Rosenfeld and Shih have worked together on technology development for over 15 years and both come to the table with in-depth know-how of the financial services industry. “To write technology as complex as this we need to know the financial industry just as well as if not better than any trader,” said Shih.
Cantor Fitzgerald was the first client to move to Version 3.0 of MPTracker with MongoDB and Managing Director of Foreign Exchange, Lee Ratner, was impressed with the upgrade. “We have been a client of ETG for a year and a half and we chose them because they are at the leading edge. “[Version 3.0 of MPTracker] is faster, better and well thought out. It is an even more flexible system.”