Episode Details

In this video, Spark Systems Chief Operating Officer Chaitanya Peddada describes how migrating to a modern IT platform powered by Nutanix’s hyperconverged infrastructure technology boosts the FinTech firm’s high-speed foreign exchange trading capabilities.

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Transcript:

Chaitanya Peddada: It’s an extremely competitive space, and the FX markets aren’t like the stock exchanges which start at a particular time and end at a particular time. It starts up Monday morning and goes throughout the week right up to Saturday. So maintaining that is extremely important. Customers expect to see the best prices exactly in real time, no matter where they’re sitting in the world. It’s sub-milliseconds, which means it’s microseconds.

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Jason Lopez: The largest financial market in the world, the FX market, is a global decentralized network where banks, financial institutions, hedge funds, corporations, and traders exchange the world’s nearly 180 currencies at negotiated prices. Singapore-based Spark Systems is a financial technology company that creates and runs high-speed, ultra-low-latency FX trading platforms. Chaitanya Padada of Spark talked to The Forkast about its goal to double average daily trader volume.

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Chaitanya Peddada: In order to do that, we have to ensure that we have all of our basics right, which means the software services on our side, the customer support on our side, and most importantly the infrastructure, because that’s where it takes a lot of lead time in order to set up the infrastructure, which we maintain. And this year we made the transition to move our entire Singapore data center onto the Nutanix stack, which allowed us to not spend money on our SAN storage devices, which would have to be renewed this year. So we used Nutanix Move to move from the legacy system to the new stack, and we also were able to add in a couple of extra servers to have a much larger stack, and we are ready to service clients or add customer servers up till the end of the year.

We are in a very tightly regulated space, so there are not just regulatory requirements but also requirements imposed by our clients, especially the banking clients, right? They have tight requirements, and these are not just security requirements but even data storage requirements. And that’s the reason why we host our own hardware. We don’t host customer data in the cloud. And because we have to maintain our own hardware stack, it’s very important that we, apart from our own software, which is Java-based technology, we partner with the right partners right from the OS level to the VM level, as well as the entire infrastructure stack.

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We host our own software in data centers, which are maintained by us for the customer, which means as soon as the client signs up, within days, if not weeks, they want to start up and start trading right away, right? So, having the right platforms in place, being at the right locations, which are the FX hubs around the world, is extremely important. Apart from that, latency plays a very key factor. We need to be in the sub-millisecond space, righ