The ability to publish real-time data is gaining a reputation in the field of programming distributed systems. The main idea behind publish and subscribe is not complicated. The application just needs to be programmed in a way that it is separated from the information exchange itself.
Separating the application from the information exchange enables the middleware to be more equipped by storing all the essential resources thus allowing access to information to be less difficult or more efficient.
When it comes to the method of publish and subscribe, the application needs to affirm its plan of writing data as well as able to identify which among the data items it plans to write before the actual writing of data. The application also needs to affirm its plan of reading data as well as identify which among the data items it plans to read before the actual reading of data.
The publish real-time data model has become a necessity to organizations that wish to share data to their workforce as well as to clients. Below are the top three common uses of the method:
1. Access To The Actual Price
In a dealing room setting, traders consider it a necessity to view the real-time prices that other traders are quoting since this allows them to understand the cost of their hedges. Traders who have gained access to the actual price that is measured by other traders’ spreadsheets can identify their costs in real-time as well as eliminate the requirement of having to refer every trade to each of these traders’ associate trader.
2. Access To Available Limits
In cases of quoting market prices, many consider it a necessity to identify the existing limits of dealing with a particular counterparty. These limits are coordinated and supervised by a division that is situated outside the dealing room environment. Instead of referring to coordinators of the limit of every trade, the transactions can be completed with lesser delay and supervision if traders have access to the existing limits in real-time.
3. Real-time data in Excel
Not all members within an organization require constant access to real time quotes. These casual users tend to pay for the full cost of the 3rd party real-time terminal without actually making the full use of it. An alternative solution for these casual users is to subscribe to only the data that these users require and then allow this data to be presented in Excel sheets for more efficient computations.
A publish real-time data model can enhance an establishments’ efficiency in updating data across various users of Excel. Using spreadsheets to create comprehensible charts and graphs has not only enhanced efficiency and comprehensibility of establishments’ communication with members and clients but also has reduced data costs.