PhaseCapital Deploys StreamBase for Market Data, Automated Execution

Boston-based quantitative investment advisor PhaseCapital has selected StreamBase’s complex event processing platform as the foundation for real-time market data feed processing and automated trade execution management. The decision followed what StreamBase calls “a comprehensive evaluation of CEP products.”

The StreamBase platform will support PhaseCapital’s high-frequency trading system, which is used for trading in U.S equities, futures, and equity options trading. PhaseCapital, founded in 2007, applies principles from the physical sciences to the traditional investment process. As well as handling data feeds, the StreamBase CEP will drive the PhaseCapital platform’s order state handling and smart order routing functions.

“Our team consists of scientists and professional engineers; we are techies at heart, so we appreciate the value of a well-designed system that supports our development and deployment philosophy,” according to Eric Pritchett, CEO of PhaseCapital. “I was encouraged to see how far CEP has come, especially regarding the quality and flexibility of the CEP and end-user programming capabilities, as well as its appropriateness for the software abstractions and high-performance hardware paradigm here at PhaseCapital.”

According to StreamBase CEO Mark Palmer, “CEP isn’t just for algo trading anymore. First generation CEP platforms were proprietary and commonly used to build bespoke applications like algorithmic trading.” But projects like PhaseCapital “illustrate that CEP is moving into the mainstream,” he says. “Second-generation CEP platforms embrace standards, development tools for business users and IT, multi-threading for scalability, and the ability to maintain systems reliably with all the tools that sophisticated enterprises demand – from debuggers to testing to connectivity."