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Do standalone applications not need an application server to run?

I am working on a standalone (non web) multi-threading trading application. It is started every night at 11 pm using a start script. We do not use an application server to deploy this application. We use oracle-coherence for HA and scalability. I do not understand is how does it work without an application server? I thought an application server is needed if we want to perform transactions, support multi-threading, etc.

You don't require application or web server for non-web application. Your application is running on JVM installed on local machine. Multithreading and DB transactions(through JDBC) are supported by JVM so you don't need application server.

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