TradePipes

The simple way to implement, and extend, trade logic.

TradePipes are an implementation of Abstract Financial Objects in Caplin Xaqua.

TradePipes provide workflow-aware management of a deal lifecycle, enabling rapid configuration for each product and asset class. A unique TradePipe is created automatically for each deal, and lasts for seconds, minutes or even days as required by the progress of the actual trade.

TradePipes automatically manage state synchronisation between client and server systems, and automatically handle error management and recovery from error situations such as timeouts and communication failures.

It is very straightforward to connect TradePipes to the bank's existing trading and pricing systems using domain-specific APIs within Caplin Xaqua.

Each different form of trade is described in an eXtensible Markup Language (XML) document, which includes descriptions of all the possible states of a trade, what events make the trade transition from one state to another, and what possible error conditions may occur. These documents are then stored in the Product Workflow Library; when a trade is initiated, by a trader clicking a trade tile for example, Caplin Xaqua selects the appropriate description from the Product Workflow Library and causes that TradePipe to come into existence for the duration of the trade.

New products can be added by simply adding a further TradePipe description to the Product Workflow Library, and whole new asset classes can easily be added in the same way - and of course integrating Caplin Xaqua with the bank's appropriate trading, pricing and permissioning systems.