Open Source Meets English Lit…

As John Donne once, almost, famously said, “No open source project is an island, entire of itself.” We might have taken some liberties with the exact wording, but we at Marketcetera take the essential meaning to heart: our products do not exist in a vacuum, they are the building blocks of a greater whole consisting of our partners and other interacting vendors.

We’ve built Marketcetera in that spirit, to be a true open source product with a transparency and flexibility that welcomes add-ons. Front office or back, Eclipse or Java, our platform is built to seamlessly plug into the greater functionality that financial service applications can provide. Graham Miller, our CEO, went into a few of the specifics in an interview with ZDNet’s Dana Blankenhorn last April:

“We have an Eclipse based front-end and a Java-based server back-end. We make use of Ruby scripting in several places – we integrate the JRuby scripting engine in the front-end. We also have a Rails application.”

Still, anything which can build Java code, can build Marketcetera add-ons. “We have an integration story for .Net and other languages,” Miller adds.

But, since most of our customers won’t be building their entire front or back offices from scratch, our partnerships let us package together the best of breed open source solutions for one seamless investment cycle.

Our teaming up with open source integrator dbConcert, announced last week, marks one prime example. The new service package allows dealers and brokers to monitor their trading platforms — including network connections, order flow, and market data — with an unprecedented agility. Our other partners include ACTIV, which helps us provide ultra-low-latency data feeds, event processing and trading strategy development tools.

So where to next? We’d like to move into other parts of the investment cycle, increasing our back office functionality, middleware capabilities, and access to market data. As major financial firms and trading houses re-evaluate the way they do business, open source companies are teaming up and making major forays into this most conservative of markets. Let us know if you’re interested in a partnership with Marketcetera.

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