How MongoDB assisted IHS Markit to achieve 250x speed in data delivery

MongoDBIHS Markit is using MongoDB data delivery service and achieved 250 times speed in delivering financial data to its Fortune Global 500 customers.

IHS Markit’s customers make financial decisions or hedge risk based on information — often in real time. The company’s Data Delivery Service gives access to more than 50 different streams of data including bonds pricing, commodities data and securities information.

IHS Markit made the decision last year to migrate to MongoDB for its Data Delivery Service to improve the customer experience and the quality of service.

With MongoDB’s non-relational document database, data could be read 250x faster, written 10x faster and storage requirements were reduced by 65 percent. These performance gains give a potential edge trading against their competitors.

Earlier, the data delivery service was powered by an infrastructure originally built on a relational database.

“Continuing with a relational database would have disqualified us from delivering the service they needed,” said Sander Van Loo, director of Data Delivery & Index Administration Services at IHS Markit.

IHS Markit selected MongoDB to replace the relational database due to its ability to quickly adapt to a wide variety of data sources. This flexibility increased the pace developers could build and deploy new data sources to customers, a key driver of revenue.

Reading a year’s worth of end-of-day market data was reduced to 10 milliseconds on MongoDB against 2,523 milliseconds earlier.

The performance improvements mean IHS Markit can now guarantee customers that data will be delivered within a strict time frame of just a few milliseconds, creating some of most competitive Service Level Agreements (SLAs) in the industry.

IHS Markit relies on MongoDB’s Ops Manager to configure, provision and back up the deployment to run the database at scale in a mission-critical environment. Developers can optimize the schema (the blueprint of how data fits together) and queries (how the application and the database asks and answers specific questions) by using visualisation tool MongoDB Compass.

IHS Markit has distributed the application’s database across three sites in London, Amsterdam, and New York. This configuration provides resilience to data centre failures and keeps data closer to users.

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