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Avanade worked with Accenture to design and create a custom-built application for the London Stock Exchange

Business Situation

Over time, UK private client brokers, an important group of the Exchange’s shareholders, had developed complex, multiple host links to the individual Retail Service Providers (RSPs) from whom they obtain the prices to execute customer orders.

The Exchange wanted to develop a central solution for routing messages between Brokers and Retail Service Providers (RSPs) to replace the current decentralized and fragmented system. The envisaged solution entailed building a Gateway to provide a single simplified interface to multiple RSPs for brokers which needed to process 500 messages per second, each with an average size of 4 kilobytes at an average latency of less than 250 milliseconds.

Solution

Avanade worked with Accenture to design and create a custom-built, C++ application, using XML Web Services.

Because XML and SOAP provide a way of presenting an Internet interface that is platform-independent, they lower barriers to entry for brokers and RSPs. RSP Gateway runs on Windows 2000 Advanced Server and Datacenter Server, utilizing MSMQ for inter-process messaging, as well as the SQL Server 2000 database. The solution will provide the facility for brokers obtain price quotes and execute deals from RSPs and other supplementary messages. Brokers and others connect to the Gateway using an FIXML based interface over the Exchange’s new IP network.

Results

  • The solution has the scalability and adaptability needed and meets the exacting performance standards required.
  • Using Web services efficiently, RSP Gateway provides a B2B solution that significantly lowers the cost base for the industry.
  • Delivery of innovation - The first FIXML and FIX-compatible interface into the Exchange: the first real application of Internet technologies for the Exchange: the first service to be launched by the Exchange on a Microsoft platform.

London Stock Exchange

Case Study: RSP Gateway messaging architecture

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