Old Mission Selects Solace to Support Rapid Growth of Business through Event-Driven Architecture
OTTAWA, ON, Sept. 27, 2022 /PRNewswire/ -- Solace, the leading enabler of event-driven architecture for real-time enterprises, announced today that Old Mission, a global, multi-asset market-making firm, has selected Solace's event streaming and management platform to support the growth of their business.
Old Mission's ability to understand and price risk has helped make it one of the leading providers of exchange traded funds (ETF) liquidity worldwide. Over the years, the company has built high-performance systems and sophisticated algorithms that help the world's largest brokers, clearing firms and institutional investors identify and act on trading opportunities so they can achieve objectives and make markets operate as efficiently as possible.
"Old Mission's success has largely depended on our ability to supply a global quantitative market-making platform with the real-time information it takes to help our clients transfer risk in a wide range of securities, often at prices that are much tighter than our competition," said Bryan Russina, CTO, Old Mission. "As we've grown rapidly to meet industry demand, we've been looking for a data distribution partner who could scale along with us, and Solace has proven they can meet our needs both in technical and market evaluations."
Specifically, Old Mission needed a platform that could efficiently stream massive amounts of information in an event-driven manner, even through peak and volatile conditions; scale easily to accommodate growing volumes; and work alongside the company's custom broker and legacy systems during the system transition period.
After exploring many event streaming brokers, Old Mission selected Solace for its ability to augment and leverage those technologies, along with APIs like C, C#/NET, and Python, in such a way that developers can focus on providing value to traders instead of building and maintaining bespoke software.
"Old Mission is among the most important sources of ETF liquidity in the world, and they serve many of the leading financial institutions we are proud to count among our customers. We are excited about the opportunity to help them maintain their competitive advantage and scale their business," said Bill Jackes, SVP Americas, Solace.
About Old Mission
Old Mission is a global, multi-asset market maker specializing in the hardest-to-price and most illiquid ETFs. As a privately held company, we've helped the world's largest institutions efficiently transfer risk for over a decade by providing trillions of dollars in liquidity. With core values that are aligned with our clients' and employees' long-term interests, we've built a team of traders, technologists and operational support professionals that is collaborative, humble and approachable. Our people understand the importance of the human element of our business, which results in a level of service and willingness to problem-solve that is unmatched. To learn more about Old Mission, visit www.oldmissioncapital.com.
About Solace
Solace helps large enterprises become modern and real-time by giving them everything they need to make their business operations and customer interactions event-driven. With PubSub+, the market's first and only event management platform, the company provides a comprehensive way to create, document, discover and stream events from where they are produced to where they need to be consumed – securely, reliably, quickly, and guaranteed. Behind Solace technology is the world's leading group of data movement experts, with over 20 years of experience helping global enterprises solve some of the most demanding challenges in a variety of industries – from capital markets, retail, and gaming to space, aviation, and automotive. Established enterprises such as SAP, Barclays and NASA, multinational automobile manufacturers such as Daimler, Groupe Renault and Groupe PSA, and industry disruptors such as the Singapore Land Transport Authority use Solace's advanced event broker technologies to modernize legacy applications, deploy modern microservices, and build an event mesh to support their hybrid cloud, multi-cloud and IoT architectures. Learn more at solace.com.
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