How to transform your risk reporting mechanisms

Capital Markets

How to transform your risk reporting

A leading brokerage firm improved its UI and lowered costs with a future-ready risk reporting platform.

Client

The client was a brokerage firm with a strong presence in the capital markets.

Goal

Improve risk reporting and calculations.

Tools and technologies

Dot Net, C#, Greenplum, JUX Proprietary Framework and HTML5.

BUSINESS CHALLENGE

The client's market risk reporting and limit monitoring platform was based on products that were reaching the end of their service lines in the foreseeable future - Microsoft's Silverlight for viewing rich content and IBM's Netezza for data warehousing. They wanted to move to a new-technology platform. Among the big challenges was a lack of user friendliness, a high cost of ownership because of the maintenance needed, and a lack of scalability because the data could not be clustered. The existing systems did not enable efficient audit trails and tracking of users. Iris had to identify alternatives that would sit well with 55 other applications in the system.

SOLUTION

We considered building a visualization platform using the latest JavaScript frameworks such as Angular or React but settled on making a fresh user interface and UI framework on HTML5. We developed new UI widgets to provide better user experience, making it possible for users to customize their workspace. We integrated the module to manage a user’s role and access level. In all, we provided a modern, flexible interface for application deployment that was developed in-house.

OUTCOMES

We successfully moved all the 55 applications to the new platform.
As a result, the total cost of ownership was expected to be 15% lower after the migration.
It was also built for the future - a distributed, scalable, mobile-ready platform.
It had an integrated module for managing user roles and access levels and could be customized with various themes to provide better user experience. User tracking and audit trails were enabled.

15%
Lower Total Cost of Ownership 
55
Apps moved to new platform

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Cloud-native app opens new markets

Cloud

Cloud-native app opens new markets

A prominent bonds trading network expands its market reach with new products and geographies.

Client

The world’s leading provider of trading services for fixed income products

Goal

Create an IT architecture to support growth across markets and products

Tools and technologies

AWS Cloud, Java, Springboot, React JS, React, Redis, Kafka, C#, Ranorex and Test Rails

BUSINESS CHALLENGE

The client, a market leader in bonds trading, is expanding to new markets, acquiring new businesses, introducing products and adding features to existing offerings. To support its growth plans, it needed an agile, modern, cloud-based platform.

Some of the business needs the client wanted to address with the new solution were:

  • How do we achieve scale with minimal latency in operations and service?
  • How do we integrate new businesses seamlessly and without disruption?
  • How do we roll out new features faster to improve customer experience and get a competitive edge?
  • How can we use data to help customers make better trading decisions? How can we monetize the data?

As a solution partner, we had to not only create a new IT architecture for the client’s trading platform but also constantly re-engineer and improve the architecture to quickly meet emerging business needs.

SOLUTION

We deployed a scalable, highly available auctions solution on the AWS cloud using Java, Springboot, React JS, React, Redis, and Kafka.

  • Optimized algorithms now achieve best matching with minimal latency while offering full price transparency.
  • Artificial intelligence (AI) and machine learning (ML) provide greater insight and real-time price discovery for specific asset classes.

The new cloud-based architecture enabled the client to create products and monetize market data. The products helped customers get accurate data in real-time to take better and faster trading decisions.

Test automation across the trade lifecycle using a combination of C#, Ranorex, Test Rails helped the client update user interfaces (UI) without reducing performance; it eased integration linkages between the acquired solution’s frontend and the client’s existing backend.

OUTCOMES

The introduction of Agile methodology and the cloud-native application has helped the client significantly speed up time-to-market for new releases – it’s now able to make releases several times a year.

The new IT architecture now allows the client to offer trading in Muni bonds (an acquired product) and US treasuries (a new service). The solution also enables the client to support Chinese markets.

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