“Based on our ability to keep all intraday event-based data available in the application layer (with Aerospike), we are now able to offer margin loans for over 14 million accounts in real time – the interest of which is a major source of income.”
Venkat Thamminana, Vice President, Portfolio Management Technology, Charles Schwab
About the Company
Charles Schwab is a top three global brokerage firm
Known for its robust online and mobile trading platforms and commission-free trades, Charles Schwab offers full-service investment management, online trading and banking services to clients around the world with total client assets north of $3.5 trillion, was growing over 10 percent annually and had also recently acquired a competitor.
Consistently deliver performance, scalability, and flexibility
Charles Schwab had to rethink its infrastructure in order to scale without barriers, provide superlative customer experience, and continue to introduce new, engaging mobile applications.
RDBMS and RAM-based cache with traditional mainframe databases were unable to consistently and reliably support ever-growing workloads during trading hours.
Caching solution quickly became overloaded, rendering it unable to scale during high-volume trading days or handle new applications without serious latency issues and system outages.
System restarts took as much as an hour to complete and the firm's reliance on RAM made data loss a serious problem.
Requirements met with Aerospike
The company’s IT department explored a number of options and quickly realized that Aerospike was the only solution that could provide the required performance due to its unique hybrid architecture. Rather than use expensive yet unreliable RAM, the firm preferred Aerospike’s ability to leverage solid state drive (SSD) flash technology.
Making real-time customer portfolio data available to drive margin loans
Set up Aerospike clusters and built an Aerospike integration layer, which talks to the systems of record whenever the legacy applications are writing to the database.
Implementing a new intraday operational data store
Aerospike layers get data at the beginning of the day, the site application reads and writes the data into Aerospike within the same transaction and then posts a message into the messaging queue.
Empowering new capabilities by providing easy access to vast amounts of data
With Aerospike as the system of record, there is real-time access to all data, making it easier to scale and manage and giving the firm the opportunity to leverage backup and recovery capabilities.
Even with the increased load during the COVID-19 crisis, the brokerage has been able to meet and exceed customer expectations and there has been no disruption in Aerospike’s stability, latency and performance. Aerospike is referred to as “the secret sauce” when it comes to low latency for the organization.
Perform over 13 billion queries per day with 99.9% requests returned in sub-milliseconds.
Hardware footprint reduced
From 150 RAM cache servers to a 10-server Aerospike cluster, while simultaneously improving performance.
Batch to real-time
Migrated end-of-day batch system to real-time, customer facing solution significantly improving customer satisfaction while saving $10,000 per day with mainframe offloading.
Improved performance at scale
400% faster throughput with 300% larger object store.