Today StreamBase announced that BM&FBOVESPA, the largest exchange operator in Latin America, has selected CEP (for an introduction to complex event processing watch this short video) as their enterprise-wide deployment platform for event-based applications.
Big, public declarations like this one beg the simple question: "what's going on here?" I think BM&FBOVESPA's decision to use CEP points to 5 key trends:
1. Brazil continues their development as an economic power and an innovation power. The Brazilian economy has been surging in past years, and BM&FBOVESPA's use of CEP further reflects the innovation in this increasingly important market. According to analyst AITE group, high frequency trading is up 52% since last November (read their report on the Brazilian market Brazil: The Best of the BRIC?). CEP will be used to build innovative applications that will help the markets operate more efficiently, and more safely. While the U.S. struggles with increased regulation, the conditions in Brazil continue to become more attractive in terms of liquidity and fairness for worldwide investors.
2. Visual CEP enables "Smart Jobs." NPR and Wired Magazine fascinating study this month on areas where the economy is doing well found that "Smart Jobs" are they key to current and future growth and will continue to grow in importance for years to come. The Smart Jobs on Wall Street are jobs where traditional IT AND business analysts work together to innovate by building smarter trading infrastructure. Marcio Castro, Chief Technology Officer of BM&FBOVESPA, said it this way: “The development of capital markets in Latin America is experiencing the fastest growing phase in decades. Innovation is the key for us to develop a liquid, low-latency and fair marketplace for our worldwide investors. [StreamBase was selected to help enable this innovation].” To learn more about how the StreamBase visual programming environment, StreamBase Studio, enables Smart Jobs, watch "Build a CEP App in 46 Seconds."
3. CEP is an increasingly strategic piece of the enterprise IT landscape. BM&FBOVESPA's commitment to CEP isn't for an algo trading app or two - that was the first generation of CEP use in Brazil. Bovespa shows that CEP is becoming an essential platform for applications of all types, from front to back office. CEP is growing up and increasingly critical in the most critical IT environments.
4. IT infrastructure continues to become more event-based. Traditional IT architecture utilize a static computing model; they store a bunch of data, and allow humans to query that data to make decisions. Modern IT architecture is event-based: repetitive decisions are automated - decisions don't have to be left to the end of the day, or end of the month. In trading, tasks that used to be performed at the end of the day, like risk management, are now performed during the day - in real-time. BM&FBovespa's move shows that the static platforms of the past are being augmented by the event-based platforms of the future.
5. StreamBase is taking Brazil by storm. OK, I have to brag just a little! It doesn't get much bigger than an endorsement by a global leader like BM&FBOVESPA. Other CEP companies moved first in Brazil, but when customers look for the leader in CEP, they turn to StreamBase.
Fascinating things are going on in Brazil - now, with the largest exchange in Latin America featuring CEP to power innovation, new innovation lies ahead - stay tuned!