Deutsche Börse Systems, the IT division of Deutsche Börse, is collaborating with open source vendor Red Hat to introduce real-time transaction risk management capabilities for its financial services clients. It is introducing the Red Hat Enterprise MRG system with the integrated open Advanced Messaging Queuing Protocol (AMQP) standard

The new risk management functionality will be part of the next release of Eurex, the trading and clearing system that is a joint venture between Deutsche Börse and SIX Swiss Exchange. When the new risk support platform goes live, planned for late Q1 2010, it aims to provide secure, near real-time access to risk information.

According to Red Hat, the new platform should help client banks to discover, track and manage the risks associated with derivatives trading deals more efficiently in future. Additionally, as AMQP is an open standard, it should be simpler for internal IT departments at financial institutions to connect their existing risk management systems to the Eurex interface.

As Gerhard Lessmann, a member of the executive board at Deutsche Börse Systems, explains: "We decided to implement Red Hat Enterprise MRG Messaging with AMQP because we wanted to make it as easy as possible for our client banks to access relevant risk data. Using the open standard AMQP helps us to avoid complex and time-consuming development work involving customized adaptors and so on."

Deutsche Börse Systems, a member of the AMQP Working Group alongside Red Hat, is one of the early major financial services institutions to implement the open AMQP standard. Until recently, financial business messaging was dominated by proprietary and bespoke messaging interfaces. A situation that the new open approach seeks to break.

"Open standards are a key element in driving down development costs, keeping ongoing maintenance expenses low and ensuring vendor independence," says Werner Knoblich, vice president, EMEA, Red Hat. "With its efforts to use AMQP as part of its new risk management functionality, Deutsche Börse is an industry pioneer and we're proud to support its strategy."

Share Story: