Data management is fundamental for financial institutions, and the challenges of corralling, maintaining and analyzing ever-growing volumes of business and transactional information are persistent if not endless. At the same time, firms are showing interest in new database technologies that can help them cope with big-data scale and complexity, according to Xenomorph Software chief executive officer Brian Sentance. Xenomorph recently ventured into that edgy, open-source territory by integrating one such tool, MongoDB, with its TimeScape enterprise data management system. One of an increasingly popular class of NoSQL approaches alternatives to the standard SQL relational database model MongoDB was already being used by a client, notes Sentance, 50. That was an opportunity for Xenomorph whose customers are investment banks, brokerages, hedge funds and asset managers around the world to scale the database technology beyond what we have. A former derivative-pricing modeler who has been with the 40-employee, London-based shop since its 1995 start, Sentance says that with MongoDB there is no change on the front end Excel interfaces are common and the systems are more scalable on the back end. He says the combination of TimeScape, which is designed to support trading, risk management and other financial market functions, with MongoDBs document storage and retrieval capabilities will be useful to firms that are grappling with day-to-day business requirements while having to archive and report more and more data for regulatory compliance. We will carry on with business applications of publishing, republishing and monetizing data, Sentance says. Data management for complex products and deals is what we are strong at, and there are ongoing challenges in these areas.
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