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Financial Services Industry Leads Collaboration on New OpenMAMA ProjectThe Linux Foundation to Host Development on Common Messaging Interface That Speeds Time to Market for New Applications (October 31, 2011)
SAN FRANCISCO, CA -- (Marketwire) -- 10/31/11 -- Major industry leaders today joined forces to announce the OpenMAMA open source project.
Bank of America Merrill Lynch, EMC, Exegy, Fixnetix, J.P. Morgan and NYSE Technologies will form the Steering Group to collaborate on OpenMAMA, a high performance Middleware Agnostic Messaging API (MAMA) that provides a common, consistent layer over a variety of message-oriented middlewares.
OpenMAMA will be hosted by The Linux Foundation, which provides a neutral framework and governance infrastructure on top of which communities can innovate. OpenMAMA joins a variety of other projects hosted by the organization as part of Linux Foundation Labs. Companies that participate on projects hosted at The Linux Foundation use collaboration to advance Linux and open source technologies. A new course offered by The Linux Foundation titled "Practical Guide to Open Source Development" helps companies understand this process.
Until now there has not been a common open source API that connects multiple transports to applications. The move to high volume, low latency messaging in multiple market sectors has created the need for an open source project and standard. The OpenMAMA project will provide a way for companies to collaborate across industries and accelerate adoption of this common API for any architecture.
As a middleware agnostic project, OpenMAMA enables users to embrace new middleware technologies and applications as the market changes. It also helps organizations speed time to market for "event-driven" applications and ensures high performance, both in terms of throughput and message latency.
The financial services industry is often recognized for developing advanced technologies that accelerate complex transactions. Linux has become the dominant operating system in this environment due, in part, to its ability to support the largest number of complex transactions in real-time. For example, NYSE, which is the world's largest exchange and runs on Linux, generates 1.5 million quotes and processes 250,000 orders every second.
Companies in financial services, telecommunications and High Performance Computing (HPC), among other industries, are looking to open source software and best practices to drive this same kind of innovation at the middleware level.
"The open source development model is powerful. By collaborating on the OpenMAMA project, companies can accelerate technology advancements while adapting to industry changes," said Jim Zemlin, executive director at The Linux Foundation. "By providing support and infrastructure for important projects like OpenMAMA, we can help advance Linux and open source software."
The MAMA API was originally conceived in 2002 with the goal of enabling banks and hedge funds to distribute market data throughout their ticker plants regardless of the underlying middleware. This resulted in reduced development times, lower costs and broader support for a range of interconnected systems and applications.
To start participating in the OpenMAMA project, please visit: http://www.openmama.org.
"Big data is increasing the complexity of messaging technologies. EMC believes that open development and collaboration on the OpenMAMA project can reduce this complexity and speed innovation throughout the financial services industry as well as other markets. We're looking forward to the work we'll do as Steering Group members of the project," said Richard Reichgut, Principal, Industry Solutions Group, Financial Services, EMC.
"The MAMA API is a strong technology that enjoys wide adoption in our industry. By forming an open source project, we help to accelerate its development and drive standardization," said Scott Parsons, Chief Technology Officer at Exegy. "The project opens the door for rapid innovation and thereby allows new technologies to have a broader impact in a shorter time frame."
"Fixnetix is pleased to participate in the OpenMAMA steering group as we strongly believe collaborative efforts will yield the best results," says Anthony Kingsnorth, Director of Operations, Fixnetix. "Demands for new technology are constant. The steering group's work will offer stronger insight into making available the best products and solutions."
"Collaborative development is critical to accelerating market adoption of technologies that can benefit everyone -- from the developers to the consumers of technology," said Doug Fisher, corporate vice president and general manager of the Systems Software Division, Software and Services Group at Intel. "The OpenMAMA Project will help foster strong adoption of a common messaging API starting in financial services followed closely by other industries, such as telecommunications and high-performance computing."
"By open sourcing our MAMA API and collaborating with so many of our respected peers on the steering group, NYSE Technologies is proud to help shape a capital markets community that can share the most innovative technologies from a range of service providers alongside its market participants," said Stanley Young, CEO, NYSE Technologies. "We know that this kind of collaboration can accelerate technology adoption and technical advancement in some very interesting ways."
About The Linux Foundation
The Linux Foundation is a nonprofit consortium dedicated to fostering the growth of Linux. Founded in 2000, the organization sponsors the work of Linux creator Linus Torvalds and promotes, protects and advances the Linux operating system by marshaling the resources of its members and the open source development community. The Linux Foundation provides a neutral forum for collaboration and education by hosting Linux conferences, including LinuxCon, and generating original Linux research and content that advances the understanding of the Linux platform. Its web properties, including Linux.com, reach approximately two million people per month. The organization also provides extensive Linux training opportunities that feature the Linux kernel community's leading experts as instructors. Follow The Linux Foundation on Twitter.
Trademarks: The Linux Foundation, Linux Standard Base, MeeGo, Tizen and Yocto Project are trademarks of The Linux Foundation. Linux is a trademark of Linus Torvalds.
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