Trading markets continue to evolve, and for most organisations, this means more active high-frequency trading. Within energy, this is driven by a move both towards algo trading, plus increased trading around assets. These trends drive increasing volumes in day-ahead and within-day markets, and in turn increases the amount of data an organisation has to process.
TradeCube from CTRM Cubed keeps pace with these markets with the inclusion of a series of automation components to reduce the manual workload.
From an ETRM perspective, automation can be in two forms – “push” for event driven activities, and “pull” for on-request activities.
Generally, push is better than pull; it’s more immediate and efficient; but it is harder to get working, more so when dealing with external systems.
Pull, sometimes known as “polling”, is simpler but suffers from two main problems: there’s a lot of wasted requests where there is no new data to pull; secondly, if you poll less frequently, then you are potentially delayed in getting updated data between each poll cycle.
TradeCube supports both push and pull automation, and both can be configured directly in the system without any technical knowledge or systems expertise.
Push is the key to effective automation. Internally, TradeCube employs a messaging bus for notification events. As well as providing instantaneous user alerts, push is also used between TradeCube components to keep portfolios and other key analytics data continually up-to-date.
Extending the push capability, external systems can link to TradeCube events using webhooks. Webhooks can be registered in the platform to call external web services when events occur. This allows external services to be kept up-to-date whenever TradeCube data changes pull automation still has its place. If your preference is low-tech, or you need to interface with external systems that don’t support a push interface, TradeCube provides a configurable task scheduler to perform tasks on a recurring basis.
If you’re interested in how TradeCube’s innovative SaaS ETRM can help automate your trading operation, contact the sales team.
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