OpenMAMA – London – OpenMAMA, the open source messaging API project has retained industry veteran Andrew Miller to help raise awareness of the benefits and increase adoption of the technology.
Miller has worked in the industry for over 30 years in roles including Head of Systems for Thomson Financial, Managing Director of Net Effect and CEO of Arcontech where he oversaw its expansion programme and progression to listing on AIM.
According to Miller, banks and suppliers joining the OpenMAMA ecosystem can gain many benefits, including cost reduction, increased profits, greater choice and flexibility and shorter development cycles. The combination of these can help drive innovation.
“OpenMAMA is a robust, proven technology, free to download and use, supported by an active open source community” said Miller. “Whilst there are many API abstraction layers out there, often proprietary, none offers the same level of adoption, maturity, flexibility and potential to drive innovation. Expect to see a number of developments and announcements over the coming months”.
Originally developed as MAMA (Middleware Agnostic Messaging API) by Wombat, before being donated to the open source community by NYSE Technologies (recently rebranded as Vela Trading Technologies — formerly SR Labs), OpenMAMA is now run under the auspices of the Linux Foundation. It is governed by a steering committee comprising JP Morgan, Solace, Tick42 and Vela with input from an advisory group of end-users, suppliers and other interested parties.
Jennifer Nayar, CEO of Vela, said “We’re proud of the part we’ve played in creating this common standard for the market data industry and we’re delighted to see how it has developed and evolved over the years. Andrew has been a strong advocate of common standards and abstraction to ‘level the market data playing field’ for many years. We look forward to working with him and the OpenMAMA ecosystem as we continue to support the project and welcome more firms that want to adopt open source technology.”