A financial market Self-Regulatory Organization (SRO) is dedicated to protecting investors and safeguarding market integrity that facilitates vibrant capital markets. The Company provides regulatory services by contract to NYSE, NYSE MKT, NYSE Arca, NASDAQ, NASDAQ Options Market, NASDAQ OMX PHLX, NASDAQ OMX BX, ISE, the Boston Options Exchange (BOX), the EDGA and EDGX Exchanges and Direct Edge®. As such, the Company has surveillance oversight of more than 90% of the listed equities market. They also provide regulatory services to the Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2).
Applying a variety of data-gathering techniques, a financial self-regulatory organization (Company) works to uncover insider trading and any strategies used to gain an unfair advantage. The Company invests in innovative technology to build sophisticated surveillance systems, process extraordinary amounts of data, and work with cutting-edge applications, programs, and hardware.
The Company’s surveillance workspace system is a key brokerage firm regulatory system providing active surveillance for financial operations and sales practice activities. The legacy system was a highly complex, decade-old proprietary system written in J2EE on IBM WebSphere Application Server and Oracle RDBMS. This system lacked the ability to adapt quickly to the ever-changing business models of financial firms or the dramatic increase in corresponding data volume.
To handle the complexity of their legacy system, Converge worked with the Company to migrate their surveillance workspace system using a two-phase approach.
Phase 1: Modernize the J2EE application and migrate to AWS, and allow the data layer, including Oracle RDBMS to remain on premise.
Phase 2: Further refactor the app with new data drivers and replace the Oracle DB and other data services with AWS-native data services to remove all dependency on on-premise infrastructures.
The Company was able to entirely remove IBM WebSphere and Oracle from the architecture of the application. It now operates as an auto-scalable, AWS-native system with significant advances in price-performance and business agility. Since 2007, Converge has been and continues to be a trusted technology partner to the Company, providing thought leadership in both technology and regulatory domain expertise. The successful migration of the surveillance workspace system aligns well with the Company’s All-In-AWS Strategy.