Panel: Open-Source SOA Gains Ground
NEW YORK—Investment banks' appetite for open-source technology continues to grow, but the community is split on the efficacy of commercializing service-oriented architecture (SOA) open-source projects to further the adoption of the technology.
Open source is "moving in," says Omer Soykan, senior vice president of investment banking technology at Jefferies & Company. Jefferies has used Java-based reporting tool JasperReports for its reporting tools and Soykan says it works well. Linux, Tomcat, Hibernate, and JBoss are also "very actively used," says Soykan, who spoke at the annual Web Services/SOA on Wall Street Show in Manhattan last week.
Dennis Reedy, vice president of advanced technology at GigaSpaces, says the vendor has taken a philanthropic approach toward open source. "Open standards that are fostered through open software and through technical licenses really help people with adoption," he says.
"Fusing economics with the open-source environment is really presenting an interesting model for licensing and for these technologies to become more real and develop into a true enterprise," Reedy says.
Dennis Callaghan, an enterprise software analyst with consultancy 451 Group, says he is skeptical of the licensing model format. "There is an impetus toward developing open-source technology that is not being met by the commercial software vendors," he says.
He says Mule, an open-source enterprise service bus (ESB) and integration platform, "was actually developed for a transaction-intensive financial environment and there was nothing on the market to license software that could do what this application could do."
He says a company called MuleSource has tried to come up with a commercial model to provide support services for that project.
"It is going to end up costing you a lot of money if you want to get that professional kind of support behind you," he says.
Reedy says GigaSpaces contributes and provides support for Mule, "so that really reinforces our model of embracing open source in a vehicle" that will spur the adoption of technologies and potentially introduce it to the marketplace, he says.
David McFarlane, COO of Java tool provider Nexaweb Technologies, has "no doubt about the genuine intent" of open-source projects. There is "sufficient momentum to truly deliver open source" but he says he cautions against being "wooed by the concept of open source" and says that there needs to be "professional support for mission-critical environments."
Earlier this year, Wachovia took SOA into consideration when adopting grid computing for multi-asset-class trading capabilities (DWT, Jan. 29).
Consultancy Accenture last year stepped up its work on SOAs by announcing a partnership with Sun Microsystems whereby the two would jointly develop identity-enabled SOA applications and create an innovation center (DWT, Sept. 18, 2006).
Chloe Albanesius
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
After acquisitions, Exegy looks to consolidated offering for further gains
With Vela Trading Systems and Enyx now settled under one roof, the vendor’s strategy is to be a provider across the full trade lifecycle and flex its muscles in the world of FPGAs.
Enough with the ‘Bloomberg Killers’ already
Waters Wrap: Anthony interviews LSEG’s Dean Berry about the Workspace platform, and provides his own thoughts on how that platform and the Terminal have been portrayed over the last few months.
BofA deploys equities tech stack for e-FX
The bank is trying to get ahead of the pack with its new algo and e-FX offerings.
Pre- and post-trade TCA—why does it matter?
How CP+ powers TCA to deliver real-time insights and improve trade performance in complex markets.
Driving effective transaction cost analysis
How institutional investors can optimize their execution strategies through TCA, and the key role accurate benchmarks play in driving more effective TCA.
As NYSE moves toward overnight trading, can one ATS keep its lead?
An innovative approach to market data has helped Blue Ocean ATS become a back-end success story. But now it must contend with industry giants angling to take a piece of its pie.
BlackRock, BNY see T+1 success in industry collaboration, old frameworks
Industry testing and lessons from the last settlement change from T+3 to T+2 were some of the components that made the May transition run smoothly.
Banks seemingly build more than buy, but why?
Waters Wrap: A new report states that banks are increasingly enticed by the idea of building systems in-house, versus being locked into a long-term vendor contract. Anthony explores the reason for this shift.