I am seeing all the more focus on ESP/ CEP stuff these days. The need for a layer of abstraction on top of ‘lots of messages’ is strong. In technology we are already pretty good at ‘lots of data’ flying around, but watching  in a repeatable way with some good constructs is still in need. The need to translate some flying data into meaningful events is key. This is particularly relevant in regards to algorithmic trading I might add.
It seems that the general trend in this space is a sort of SQL like query for event flow.

You will see things like (Apama-esque):

or: (StreamBase-esque)
CREATE STREAM TickTriples AS
SELECT symbol, T1.price AS price1, T2.price AS price2, T3.price AS price3
FROM Ticks T1 -> Ticks T2 -> Ticks T3
WHERE T1.symbol = T2.symbol AND T2.symbol = T3.symbol;

SELECT  *
FROM TickTriples
WHERE price1 > 80 AND price2 < 80 AND price3 < 80 AND symbol = "IBM";
The Apama version reminds me of TradeStation which is sort of similar in that it consumes streams of events and it can do simlar event sequence operations. Obviously - TradeStation is specific to market data, it is older and not so advanced as the Aleris, StreamBases, Coral8s, etc… The ‘StreamSQL’ version has obvious SQL lineage.
To my amusement (and a few others I imagine)  - a StreamBase employee and an Apama employee have been ‘going at it’ on one of the CEP email forums. The quibble points are over bold statements about performance, leadership in industry etc. Classic vendor stuff. Long-story-short; the emerging point is that there seems to be no really good set of metrics/ standards by which to compare performance of ESP/ CEP products. That will come soon I bet.
Anyhow - there you have it - CEP/ ESP technology is building. Plenty of tech fun and work to be found here I bet!

-Chris

No Responses to “More CEP - Complex Event Processing”

1. 11p » ESP/CEP, on September 4th, 2006 at 1:43 pm, said:
   

   [...] More ESP in Finance via Chris Donnan. There have been a number of references to ESP/CEP space bouncing around the tech & finance blogs recently. Here HereGoogle BigTable and Google BigTable & C-Store via Geeking with Greg. [...]

2. 11p » ESP/CEP, on September 4th, 2006 at 1:43 pm, said:
   

   [...] More ESP in Finance via Chris Donnan. There have been a number of references to ESP/CEP space bouncing around the tech & finance blogs recently. Here HereGoogle BigTable and Google BigTable & C-Store via Geeking with Greg. [...]

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