RESTful market & static data caches August 4, 2008Posted by James Webster in : development , trackback
An architectural pattern that I have observed a few investment banks implement is a distributed memory cache accessed via a RESTful front-end over HTTP for providing access to market data (e.g.. stock prices, interest rate curves, or derived values like volatility surfaces & correlations) and static data (e.g. counterparty details, settlement defaults). The distributed cache can be ‘easily’ scaled to hold massive data sets and the front-end allows the data to be accessed in a technology agnostic fashion, as long as the client can speak HTTP. These caches tend to use a commercial product such as Oracle (nee Tangosol) Coherence, Gigaspaces Enterprise Data Grid or GemStone GemFire. The REST layer is written in-house however. In the open-source world it appears that Ehcache now has a ‘RESTful, resource-oriented’ layer. Given the growing popularity of REST versus WS-DeathStar its possible that Coherence et al will provide some out-of-the-box support for REST as well. Microsoft might consider pairing Velocity with ASP.NET MVC?