Oracle's Dave Chappell writes about a new paradigm sweeping the financial services world, extreme transaction processing (XTP). The good news that used in conjunction with SOA, XTP offers power to applications such as fraud detection, trade resolution, and risk management calculations, running off of low-cost commodity hardware, versus the premium servers required for these applications in days gone by.
"We're seeing that SOA coupled with XTP (eXtreme Transaction Processing) is the future for financial services infrastructure," Dave says. XTP enables certain applications to process large amounts of data/
What is the connection between XTP and Complex Event Processing (CEP)? They are both "positioned to solve some of the same thorny problems of tracking business exceptions such as what is required for fraud detection," Dave says. XTP is tied to CEP "in that they are both about consuming and correlating large amounts of event data and doing something meaningful with it." However, traditional systems relying on CEP may not have the storage management capacity needed to handle large amounts of data.
"Tie-ins to SOA are many, but the most obvious one is that once the exceptions are detected, there are actions to be taken," he explains. "Typical actions to be taken are to send alerts to a BAM dashboard and to invoke a business process or human workflow, such as what can be defined and executed using the Oracle BPEL process manager."
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