Challenge
IIFL Capital’s infrastructure for market data feed distribution relied heavily on a tactical, point-to-point architecture using TCP and WebSocket communication. This setup spanned across multiple servers resulting in a large infrastructure footprint to support a large number of concurrent connections.
Solution
To modernize its infrastructure, IIFL Capital adopted event-driven architecture with Solace. A well-structured topic taxonomy was implemented to standardize data flow and ensure consistent, efficient routing across all applications. By deploying an event mesh across production and disaster recovery sites, the company consolidated its infrastructure footprint. Solace’s support for open standards simplified operations and reduced latency in delivering market data to mobile and web applications. MQTT Retain was used for Last Value Cache, eliminating the need for additional caching solutions.
Use Cases
- Real-time market data distribution from NSE and BSE to retail and wealth customers.
- Instant order and trade confirmations to mobile and web applications.
Benefits
- Improved Customer Experience: Faster and more reliable market data delivery during peak hours.
- Operational Efficiency: Reduced infrastructure complexity and easier maintenance.
- Cost Savings: Decommissioning of legacy systems led to significant cost reductions.
Future Plans
IIFL Capital is exploring additional use cases such as SMS, Android and iOS push notifications using Solace’s queuing layer and implementing a file mesh for broader data distribution.
IIFL Capital Services Limited is one of India’s largest independent broking houses, offering a comprehensive suite of financial services including equity, commodities, and currency broking, portfolio advisory, investment banking, and distribution of mutual funds and bonds.