“THE CRIBL COMMUNITY IS INCREDIBLY RESPONSIVE AND HELPFUL!”
PRINCIPAL TECHNOLOGIST, MIAX
“THE VALUE-ADD IS SIGNIFICANT; THIS IS A MUCH MORE EFFECTIVE WAY OF WORKING.”
PRINCIPAL TECHNOLOGIST, MIAX
MIAX launched their first fully electronic options trading exchange in 2012. With the goal of offering technologically-advanced marketplaces catering to the needs of the trading community, they brought a second exchange online in 2017 and a third in 2019, now listing and trading options on over 2,600 multi-listed classes. MIAX launched their first cash equity exchange on September 25, 2020.
Under the hood, these exchanges consist of two major divisions: the front office and trading systems (including the core matching function, which matches buyers with sellers), and the back office systems which develops applications for operations, audit, reporting, settlement, listing, regulatory and compliance needs. The front office application stack is custom-built to prioritize speed and low latency, with thousands of processes for a single exchange. The back office stack streams in large quantities of contextual market data which are further used by the various application stacks and produces logs in a wide array of log source types.
The MIAX Service Reliability Engineering (SRE) team originally used a prominent SIEM tool as an APM to process events related to the performance and behavior of the application stack. What they built wasn’t the optimal solution, but it achieved what the team needed at the time.
But with all the expansion that came with the new exchanges coming online, they wanted to stay ahead of the curve to ensure they could maintain the reliability, flexibility and scalability they had established for their marketplace while keeping costs reasonable.
Leadership tasked Gopal’s SRE team with finding a solution. Expanding their use of Splunk was deemed the obvious choice – offering many features, flexibility and scope for supporting their wide range of data sources natively. However, challenges remained.
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Cribl makes open observability a reality for today’s tech professionals. The Cribl product suite defies data gravity with radical levels of choice and control. Wherever the data comes from, wherever it needs to go, Cribl delivers the freedom and flexibility to make choices, not compromises. It’s enterprise software that doesn’t suck, enables tech professionals to do what they need to do, and gives them the ability to say “Yes.” With Cribl, companies have the power to control their data, get more out of existing investments, and shape the observability future. Founded in 2017, Cribl is a remote-first company with an office in San Francisco, CA. For more information, visit www.cribl.io or our LinkedIn, Twitter, or Slack community.