Progress Real Time, best known for its software for handling real-time complex event processing particularly in the electronic trading environment, has positioned a new product offering to exploit opportunities in the reference data environment.
Progress Real Time this month launched its DataXtend line of infrastructure technologies, comprising a Replication Engine (RE) module and a Caching Engine (CE) module. The DataXtend CE module incorporates Progress’s so-called Continuous Cache Coordination (CCC) feature, that could help financial institutions ensure that their existing databases of reference data are kept in sync when changes are made to them.
According to Ken Rugg, vice president of real time data services at Progress, the company’s intention is not to define reference data models for financial institutions, but rather to provide the database management infrastructure that ensures data integrity where these databases are already in place. The DataXtend CE module works with the major relational database management systems, including Sybase, Oracle and SQL Server, to map between existing reference data schemas to ensure consistency and integrity of data.
An example of a possible deployment of DataXtend would involve a client seeking to take an incremental approach to implementing a centralized reference data management environment. Here, both RE and CE could be used to ensure consistency as new data models are applied to specific applications within the enterprise.