MongoDB Day Austin coming up on Saturday, March 27
If you’re in the Austin area on March 27, you won’t want to miss MongoDB Day at Cospace in Austin. MongoDB Day Austin will be hosted by GeekAustin, a Slashdot style news site, and sponsored by 10gen.
This conference will have something for anyone interested in using MongoDB, from introductory sessions to more advanced discussions on sharding and MapReduce. Presenters at the conference will include Four Kitchens co-founder David Strauss and 10gen’s Mathias Stearn.
Tickets are running out fast! Visit http://mongodbday.eventbrite.com/to learn more and register.
Are you going to Structure?
GigaOm’s Structure is one of the most interesting conferences in the Bay Area this year. In 2010, we’re excited that Eliot Horowitz from 10gen / MongoDB will be speaking. GigaOm, who were media sponsors at the recently completed NoSQL Live event in Boston, has provided a special discount code for friends of MongoDB to register for the conference at a $100 savings. Hope to see you there! Details, including the discount code from our partner GigaOm: GigaOM’s Structure conference is back for 2010! Get your ticket now! Your $100 discount on this year’s conference is available now! http://structure2010.eventbrite.com/?discount=NOSQL100 GigaOM’s flagship conference, Structure, returns on June 23rd and 24th for two days of deep insight on the Cloud Computing industry. Taking place at the Mission Bay Conference Center in San Francisco, Structure 2010 promises to be our best Structure conference yet. **Save the dates** June 23rd and 24th Mission Bay Conference Center, San Francisco http://events.gigaom.com/structure/10/ The $1.4 trillion IT market is undergoing a massive shake-up due to Cloud Computing. From the chips that power the compute clouds to the broadband that transports the computation and the software that ties it all together, Cloud Computing is creating a fundamental shift in how we think about and buy computing services. And at each point in the chain, such disruption creates another opportunity. At Structure 2010 you will learn about those opportunities and how to profit from them. Our speaker list is growing every day. Confirmed speakers include: Erich Clementi - VP, Strategy & General Manager, Enterprise Initiatives, IBM Marc Benioff - Chairman and CEO, salesforce.com Werner Vogels - CTO, Amazon.com Dr. Amr Awadallah - CTO and co-founder, Cloudera Eliot Horowitz – CTO and co-founder, 10gen / MongoDB Nick McKeown - Professor, Stanford University William Forrest - Principal, McKinsey For the most up-to-date list, see our web site: http://events.gigaom.com/structure/10/ When you attend Structure 2010 you will learn: Why Cloud Computing is important – The scenarios in which it reduces cost, improves collaboration, speeds the real-time enterprise and increases enterprise agility. Why new computing architectures are needed to support Cloud Computing and what they are – Hint: It’s not what’s currently in your data center. Why Big Data means Big Problems – How do you make sense of exascale data in a timely and cost-effective manner? What new opportunities exist to improve this? Why we might need to re-invent Internet technologies – The Internet is now asked to transport vast chunks of computation rather than small pieces of text, as it was designed to do. What impacts “Real Time” has on the cloud – What extra considerations does real-time business infrastructure require? …and much, much more. Check out the full schedule on our web site . So join us on June 23rd and June 24th in San Francisco to be part of the discussion at the Cloud Computing industry’s premier conference: Structure 2010. Register now and save $100 off the early-bird ticket price! http://structure2010.eventbrite.com/?discount=NOSQL100 Structure 2010 also represents a great way to directly address one of the most influential tech audiences anywhere. Call Mike Sly at (415) 235-0358 to find out how your company can exhibit.
Accelerating to T+1 - Have You Got the Speed and Agility Required to Meet the Deadline?
On May 28, 2024, the Securities and Exchange Commission (SEC) will implement a move to a T+1 settlement for standard securities trades , shortening the settlement period from 2 business days after the trade date to one business day. The change aims to address market volatility and reduce credit and settlement risk. The shortened T+1 settlement cycle can potentially decrease market risks, but most firms' current back-office operations cannot handle this change. This is due to several challenges with existing systems, including: Manual processes will be under pressure due to the shortened settlement cycle Batch data processing will not be feasible To prepare for T+1, firms should take urgent action to address these challenges: Automate manual processes to streamline them and improve operational efficiency Event-based real-time processing should replace batch processing for faster settlement In this blog, we will explore how MongoDB can be leveraged to accelerate manual process automation and replace batch processes to enable faster settlement. What is a T+1 and T+2 settlement? T+1 settlement refers to the practice of settling transactions executed before 4:30pm on the following trading day. For example, if a transaction is executed on Monday before 4:30 pm, the settlement will occur on Tuesday. This settlement process involves the transfer of securities and/or funds from the seller's account to the buyer's account. This contrasts with the T+2 settlement, where trades are settled two trading days after the trade date. According to SEC Chair Gary Gensler , “T+1 is designed to benefit investors and reduce the credit, market, and liquidity risks in securities transactions faced by market participants.” Overcoming T+1 transition challenges with MongoDB: Two unique solutions 1. The multi-cloud developer data platform accelerates manual process automation Legacy settlement systems may involve manual intervention for various tasks, including manual matching of trades, manual input of settlement instructions, allocation emails to brokers, reconciliation of trade and settlement details, and manual processing of paper-based documents. These manual processes can be time-consuming and prone to errors. MongoDB (Figure 1 below) can help accelerate developer productivity in several ways: Easy to use: MongoDB is designed to be easy to use, which can reduce the learning curve for developers who are new to the database. Flexible data model: Allows developers to store data in a way that makes sense for their application. This can help accelerate development by reducing the need for complex data transformations or ORM mapping. Scalability: MongoDB is highly scalable , which means it can handle large volumes of trade data and support high levels of concurrency. Rich query language: Allows developers to perform complex queries without writing much code. MongoDB's Apache Lucene-based search can also help screen large volumes of data against sanctions and watch lists in real-time. Figure 1: MongoDB's developer data platform Discover the developer productivity calculator . Developers spend 42% of their work week on maintenance and technical debt. How much does this cost your organization? Calculate how much you can save by working with MongoDB. 2. An operational trade store to replace slow batch processing Back-office technology teams face numerous challenges when consolidating transaction data due to the complexity of legacy batch ETL and integration jobs. Legacy databases have long been the industry standard but are not optimal for post-trade management due to limitations such as rigid schema, difficulty in horizontal scaling, and slow performance. For T+1 settlement, it is crucial to have real-time availability of consolidated positions across assets, geographies, and business lines. It is important to note that the end of the batch cycle will not meet this requirement. As a solution, MongoDB customers use an operational trade data store (ODS) to overcome these challenges for real-time data sharing. By using an ODS, financial firms can improve their operational efficiency by consolidating transaction data in real-time. This allows them to streamline their back-office operations, reduce the complexity of ETL and integration processes, and avoid the limitations of relational databases. As a result, firms can make faster, more informed decisions and gain a competitive edge in the market. Using MongoDB (Figure 2 below), trade desk data is copied into an ODS in real-time through change data capture (CDC), creating a centralized trade store that acts as a live source for downstream trade settlement and compliance systems. This enables faster settlement times, improves data quality and accuracy, and supports full transactionality. As the ODS evolves, it becomes a "system of record/golden source" for many back office and middle office applications, and powers AI/ML-based real-time fraud prevention applications and settlement risk failure systems. Figure 2: Centralized Trade Data Store (ODS) Managing trade settlement risk failure is critical in driving efficiency across the entire securities market ecosystem. Luckily, MongoDB integration capabilities (Figure 3 below) with modern AI and ML platforms enable banks to develop AI/ML models that make managing potential trade settlement fails much more efficient from a cost, time, and quality perspective. Additionally, predictive analytics allow firms to project availability and demand and optimize inventories for lending and borrowing. Figure 3: Event-driven application for real time monitoring Summary Financial institutions face significant challenges in reducing settlement duration from two business days (T+2) to one (T+1), particularly when it comes to addressing the existing back-office issues. However, it's crucial for them to achieve this goal within a year as required by the SEC. This blog highlights how MongoDB's developer data platform can help financial institutions automate manual processes and adopt a best practice approach to replace batch processes with a real-time data store repository (ODS). With the help of MongoDB's developer data platform and best practices, financial institutions can achieve operational excellence and meet the SEC's T+1 settlement deadline on May 28, 2024. In the event of T+0 settlement cycles becoming a reality, institutions with the most flexible data platform will be better equipped to adjust. Top banks in the industry are already adopting MongoDB's developer data platform to modernize their infrastructure, leading to reduced time-to-market, lower total cost of ownership, and improved developer productivity. Looking to learn more about how you can modernize or what MongoDB can do for you? Zero downtime migrations using MongoDB’s flexible schema Accelerate your digital transformation with these 5 Phases of Banking Modernization Reduce time-to-market for your customer lifecycle management applications MongoDB’s financial services hub