David Botzer

Complex Event Processing for Financial Services

Complex event processing (CEP) is an emerging technology for extracting information from distributed message-based systems. CEP is software used to create and deploy applications that process large volumes of incoming messages or events, analyze those messages or events in various ways, and respond to conditions of interest in real-time. This technology allows users of a system to specify the information that is of interest to them. This paper presents an over-view of complex event processing applied to the domain of financial services demonstrated using a CEP product called AMiT (active middleware technology). Two case studies (in the banking and the insurance industries) are introduced in order to demonstrate the special use of the CEP concept in the financial services domain and the advantages both on built-time and run-time. The various usages of CEP for BAM, messaging, decision-making in financial services applications express the increasing role of CEP in intelligent event-driven financial services solutions

Context awareness in Amit

This paper presents the context awareness capabilities of Amit. Amit is a tool that includes both a language and an efficient run-time execution mechanism, aimed at reducing the complexity of active applications. It follows the observation that in many cases, there is a gap between current tools that enable to react to a single event (following the ECA: Event-Condition-Action paradigm), and the reality, in which reaction is relevant only in certain contexts in response to patterns over event histories. Context awareness in Amit takes into account event information, time and location to introduce the concept of situation. The concept of situation is an extension of the concept of composite event in its context awareness capability; it results in additional expressive power, flexibility and usability.

Application Generation Framework for Real-Time Complex Event Processing

We propose to develop a framework which provides the ability to apply complex event processing in realtime domains, thus allowing an easier process of developing and maintaining specific solutions for real-time event-based systems, while upholding the real time requirements of the system. Specifically, we propose to develop a framework that includes an integrated development environment for defining rules, and, given a set of rules, generates code for a complex event processing application for which it is able to determine time bounds on the response of this application to a set of supported events. In particular, the tool helps determine a time bound for the execution time of the code corresponding to each rule. Many Service Oriented Architecture (SOA) applications, in domains such as financial services, manufacturing, gaming and military/aerospace, have real-time performance requirements. We present real-life industry use cases from these domains as motivation for the potential benefit in developing real-time complex event processing applications. In support of a feasibility argument for the proposed approach we present some preliminary experimental results obtained on a partially implemented tool.

Generating real-time complex event-processing applications

We propose to exploit the technology for complex event processing (CEP) embodied in the rule-based engine known as IBM Active Middleware Technology™ and extend it to the development of real-time CEP applications. Specifically, we propose to develop a framework that includes an integrated development environment (IDE) for defining rules, and, given a set of rules, generates code for a CEP application and enables us to determine time bounds on the response of this application to a set of supported events. In particular, the IDE helps determine a time bound for the execution time of the code corresponding to each rule. The calculation of time bounds is based on a set of benchmark measurements to be performed on the target hardware and involves code segments corresponding to basic operations. Although we assume the code generation phase produces Java™ code, the same approach can be applied to any other suitable programming language. In support of a feasibility argument for the proposed approach, we present some preliminary experimental results obtained on a partially implemented tool.