Event-Driven Order Processing Program
Following the Hello World example of a simple, independently deployable real-time Event-Driven Microservice, this article looks at a more realistic example of an Order Processor with a New Order Single in and an Execution Report out. A New Order Single is a standard message type for the order of one asset in the FIX protocol used widely by financial institutions such as banks. The reply is typically one or more Execution Report s updating the status of that order. Some Background on Fintech In fintech, when one organisation wishes to purchase an asset or commodity from another, they send an order. The other organisation sends a message to notify if the order was successful; this message is called an execution report. You could think of it a bit like a trade receipt. These orders and execution reports are transmitted electronically, using a data format standardised by Financial Information eXchange (FIX). There are many different o...