Mobile Phone Stock Trading for MIT

Innasite has developed a middleware product based on the Open Financial Exchange (OFX) standards to enable share trading for mobile phone users through the Morocco Stock Exchange

The complete share trading operation can be divided into the following steps:

1. User sends a transaction request through the mobile phone to the Financial Services Provider (FSP). FSP captures user actions and converts them into an OFX compatible request for further processing by the OFX Servers. The FSP also serves as the WAP gateway.

2. OFX server accepts the OFX requests from the Financial Services Provider and convert the requests to a Java object using the Java Architecture for XML Binding (JAXB). The Java objects built at run time using the JAXB are then converted into Enterprise Java Beans (EJB). The EJB components are deployed on an Oracle 9i Application Server platform. The backend database used for persistent storage is Oracle 9i.

3. The Java Objects are then delegated to the internal process servers based on system requirements. The internal process servers are divided into the Front Office, the Middle Office and the Back Office. The internal process servers are responsible for work-flow checks, validations and other processes before the OFX request is sent to the stock exchange for completing that request.

4. The OFX server communicates with the stock exchange through Java Messaging Service (JMS). The request is converted into stock exchange compatible format and put in the message queue. The same process is followed the other way round for responses from the stock exchange.

Technology used:
Sun Solaris, Oracle 9iAS, Oracle 9i database, EJB & Java Objects using JAXB, OFX adapters, Java - XML based adapters, Apache Soap for SOAP-RPC calls, SMSSE V2 SMS Messaging service Engine, Apache ANT, and Apache Log4j


back