Imported from previous forum
[ original email was from Jim Northey - jnorthey@lasalletech.com ]
Was wondering if anyone had given any thought to business event enumeration and notification.
In clearing, there are certain events that need to be communicated and certain states that should be communicated between clearing house and clearing firm.
For instance, a firm needs to communicate when they are done changing positions and it is okay for the clearing house to process positions.
The clearing house may also communicate windows - such as window is closing for position changes, etc.
The Trading Session Status can communicate state of a trading session - there is not an analog for clearing. Also, I am wondering if it might be better to have some generic event notification mechanism that can be used to represent events and state in generic business processes?
Any thoughts?