Enterprise Integration Patterns: Designing, Building, and Deploying Messaging Solutions (Addison-Wesley Signature Series (Fowler))

by Hohpe Gregor

First, market data comes into the system. Market data is data regarding the price and other properties of the bond, representing what people are willing to buy and sell the bond for on the free market. The market data is immediately sent to the analytics engine that alters the data. Analytics refers to mathematical functions for financial applications that alter the prices and other attributes of bonds. These are generic functions that use input variables to tailor the results of the function to a particular bond. The client application that will run on each trader desktop will configure the analytics engine on a per-trader basis, controlling the specifics of the analytics for each bond the trader is pricing. Once the analytics are applied to the market data, the modified data is sent out to various trading venues where traders from other firms can buy or sell the bonds.