Towards a service-oriented architecture: A framework for the design of financial trading applications in the South African investment banking environment

 

 

W. Vos^I; M.C. Matthee^II

^IDepartment of Informatics, University of Pretoria, South Africa, wvos@investec.co.za
^IIDepartment of Informatics, University of Pretoria, South Africa, machdel.matthee@up.ac.za

 

 

---

ABSTRACT

Service-Oriented Architecture (SOA) enables organisations to let their business drive their IT strategy, and creates a technology strategy that is aligned with that of the business. SOA is an architectural style that enables the integration of disparate systems, independent of the implementation technology or physical location, through encapsulating and integrating business processes as a collection of coarse grained, loosely-coupled services. This article aims to examine the ability of SOA to satisfy the requirements and concerns posed by financial trading systems, and to present a SOA framework for building an automated trading application.

---

OPSOMMING

Diens-georiënteerde argitektuur (Service-Oriented Architecture (SOA)) stel organisasies in staat om die IT-strategie vanuit die besigheid te bestuur, en skep 'n tegnologiestrategie wat belyn is met dié van die besigheid. SOA is 'n argitektoniese styl wat die integrasie van uiteenlopende stelsels moontlik maak, onafhanklik van die implementeringstegnologie of fisiese ligging, deur besigheidsprosesse te enkapsuleer en te integreer as 'n versameling van losweg-gekoppelde dienste. Die doel van hierdie artikel is om SOA te ondersoek as 'n moontlikheid om te voldoen aan die vereistes en knelpunte wat finansiële handelstelsels stel, en om 'n SOA-raamwerk vir die bou van 'n outomatiese handelsapplikasie te bied.

---

 

 

“Full text available only in PDF format”

 

 

REFERENCES

[1] Moitra, D. & Ganesh, J. 2005. Web services and flexible business processes: Towards the adaptive enterprise, Information and Management, 42(7), pp 921-933.         [ Links ]

[2] Eisenhardt, K.M. & Martin, J.A. 2000. Dynamic capabilities: What are they?, Strategic Management Journal, 21(11), pp 1105-1121.         [ Links ]

[3] Harreld, J.B., O'Reilly, C.A. & Tushman, M.L. 2007. Dynamic capabilities at IBM: Driving strategy into action, California Management Review, 49(4), pp 21-43.         [ Links ]

[4] Mitchell, R.L. 2006. Morphing the mainframe, Computerworld, 30(5), pp 29-31.         [ Links ]

[5] IBM. 2006. Expanding the Innovation Horizon Global CEO study.         [ Links ] [online] Available from: http://www.ibm.com/bcs/ceostudy. Accessed 29 April 2008.

[6] Xiaorong, X. 2007. Service-oriented architecture for integration of bioinformatic data and applications. PhD thesis. University of Notre Dame, Indiana.         [ Links ]

[7] Pan, A. & Viña, Á. 2004. An alternative architecture for financial data integration, Communications of the ACM, 47(5), pp 37-40.         [ Links ]

[8] Birman, K.P. 2004. Like it or not, web services are distributed objects, Communications of ACM, 47(12), pp 60-62.         [ Links ]

[9] Birman, K., van Renesse, R., & Vogels, W. 2004. Adding high availability and autonomic behavior to web services, in: Proceedings of the 26th International Conference on Software Engineering (ICSE'04), May 23-28, 2004. IEEE Computer Society: Washington, pp 17-26.         [ Links ]

[10] Jones, S. 2006. Enterprise SOA adoption strategies. C4Media: USA.         [ Links ]

[11] Bruner, R.F. 1999. An analysis of value destruction and recovery in the alliance and proposed merger of Volvo and Renault, Journal of Financial Economics, 51(1), pp 125-166.         [ Links ]

[12] Smith, K. & O'Neal, E. 2003. Bank-to-bank deals seldom add value, ABA Banking Journal, 2003 (December), pp 7-10.         [ Links ]

[13] Brown, A.W., Delbaere, M., Eeles, P., Johnston, S., & Weaver, R. 2005. 'Realizing service-oriented solutions with the IBM rational software development platform, IBM Systems Journal, 44(4), pp 727-752.         [ Links ]

[14] Mehta, M R, Lee, S. & Shah, J.R. 2006. Service-Oriented Architecture: Concepts and implementation', in: The proceedings of ISECON conference, Dallas, November 2-5, 2006. EDSIG: Dallas.         [ Links ]

[15] Perrey, R. & M. Lycett. 2003. Service-Oriented Architecture, in: Proceedings of the 2003 Symposium on Applications and the Internet Workshops (SAINT03). IEEE Press: New Jersey, pp 116-119.         [ Links ]

[16] IBM. 2004. Service-oriented architectures and web services, IBM Developerworks Technical Presentation. Texas State University.         [ Links ]

[17] Huhns, M.N. & Singh, M.P. 2005. Service-oriented computing: Key concepts and principles, IEEE Internet Computing, 9(1), pp 75-81.         [ Links ]

[18] Papazoglou, M.P. 2003. Service-oriented computing: Concepts, characteristics and directions, in: Proceedings of the Fourth International Conference on Web Information Systems Engineering. IEEE Computer Society: Washington, pp 3-12.         [ Links ]

[19] Sanchez, F. 2006. The SOA approach to integration and transformation, U.S. Banker, 116 (July), pp 12-13.         [ Links ]

[20] Margulius, D.L. 2006. Banking on SOA, InfoWorld, July 13.         [ Links ] [online] Available from: http://www.infoworld.com/article/06/07/13/29FEwachovia_1.html. Accessed 2 Aug 2008.

[21] Zimmermann, O., Milinski, S., Craes, M. & Oellermann, F. 2004. Second generation web services-oriented architecture in production in the finance industry, in: Companion to the 19th annual ACM SIGPLAN conference on Object-oriented programming systems, languages, and applications. ACM Press: New York, pp 283289.         [ Links ]

[22] Microsoft. 2007. SOA in the real world.         [ Links ] [online] Available from: Microsoft. http://www.microsoft.com. Accessed 2 August 2008.

[23] Ross, J.W. 2003. Creating a strategic IT architecture competency: Learning in stages. MIS Quarterly Executive, 2(1), pp 31-43.         [ Links ]

[24] Afshar, M. 2007. SOA governance: Framework and best practices. Oracle: California.         [ Links ]

[25] Marks, E.A. & Bell M. 2006. Service-Oriented Architecture (SOA): A planning and implementation guide for business and technology. Wiley: New York.         [ Links ]

[26] Zachman, J.A. 1987. A framework for information systems architecture. IBM Systems Journal, 26(3), pp 276-292.         [ Links ]

[27] Josuttis, N.M. 2007. SOA in practice: The art of distributed system design. O'Reilly Media: California.         [ Links ]

[28] Reekie, H.J. & McAdam, R.J. 2006. A software architecture primer. Angophora Press: Sydney.         [ Links ]

[29] Myers, M.D. 2009. Qualitative research in business & management. SAGE Publications Ltd.: London.         [ Links ]

[30] Bates, J. 2007. Algorithmic Trading: The use of algorithms in automated trading.         [ Links ] [online] Available from: http://www.ddj.com/hpc-high-performance-computing/197801615. Accessed 26 July 2008.

[31] Technical Analyst. 2007. The new standard in algorithmic trading, The technical analyst, 2007 (May/June), pp 40-44.         [ Links ]

 

 

* Corresponding author.
1 The author was enrolled for the M.IT degree at the Department of Informatics, University of Pretoria.