High-performance real-time instrument sorting and filtering capabilities are now available for single-dealer platform applications


LONDON, NEW YORK and HONG KONG – 13 September 2011 – Caplin Systems Ltd., the leader in single-dealer platform technology, today announced immediate availability of Caplin Refiner, the latest in its set of products to support single-dealer platforms in the capital markets.

Caplin Refiner provides high performance server-side filtering and sorting for financial records and has been designed to handle the massive lists of instruments that are needed in asset classes such as fixed income.

Single-dealer platforms already represent the largest channel to market for FX trading which demands ultra-high-performance real-time pricing for a small number of currency pairs. Many dealers are now looking to add rates and credit products to their SDP, and are faced with an entirely different problem: how to filter and sort a huge list of dynamically changing instrument prices before displaying a subset of the list to the user.

Sending the entire list over the Internet to the SDP application for sorting is not an option because transmitting the list alone can take minutes rather than milliseconds.

Caplin Refiner solves this problem in a highly inventive way using the processing power of the server. A user request for a filtered and sorted subset of instruments is transmitted via Caplin Liberator and Caplin Transformer to Caplin Refiner which processes the request and returns only the matching records in the correct order – eliminating the need to transfer irrelevant records over the network and substantially improving the performance of the front-end application.

Caplin Refiner can handle thousands of simultaneous filter and sort operations on real-time data.

Patrick Myles, Caplin Systems’ Chief Technology Officer said, “While Caplin’s UX design team can offer alternate ways of presenting financial data, users will always want to see a filtered and sorted list of instruments and real-time prices. Caplin Refiner enables this to be delivered in a Web application without compromising performance.”

Filters and sorts can be placed on any characteristic of an instrument from price, coupon and maturity date to name, currency and issuer.

If the user requires a static list of instruments, then Caplin Refiner can provide a “snapshot” view. Or the user can take advantage of Caplin Refiner’s “live” capability, which offers a view of the requested list that is dynamically updated in real-time as instruments meet, or drop out of, the filter criteria.

Caplin Refiner is available immediately for use in existing Caplin Xaqua and Caplin Transformer applications.

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