Enodia Financial Technology, a one-year-old vendor based in Denver, is looking to complex event processing for growth. Enodia was formed from the ashes of Selero, a now defunct middleware supplier, and is headed by Paul Wuethrich, a former Selero employee.
The firm sees growth in multi-asset trading as driving demand for its message-moving technology. Often referred to complex as event processing, the technology takes in streams of data; performs analysis on the data; and incorporates the results into trading decisions. All this is done in real-time.
"With more multi-asset class functionality getting integrated into analytics and the order management system, you have more of a need for a real time analytical capability," Wuethrich said. "You need to have the tools to do that kind of heavy lifting."
Wuethrich bought Selero’s technology in a going-out-of-business sale. It is now the core technology of Enodia. The middleware manages message inflow and outflow for a variety of applications needed by financial firms.
Most vendors have settled on a standardized SQL-like language to build CEP applications, Wuethrich explained. But Enodia is using 1990’s technology developed at New Era of Networks, where he previously worked. Enodia’s CEP is in use at an unnamed hedge fund.
