Automating processes to boost sales
This financial institution, by means of its contract awarding committees, offers its most sophisticated corporate clients the possibility to operate with exotic financial products for both hedging and speculative transactions. With a view to expanding this business area, it sought a solution that would enable improved performance and automated processes, all whilst facilitating risk control. After analysing its possible options, the client opted to implement the Murex Flex module. This module enables the integration of internal valuation libraries and models into the core of the Murex solution, where the company’s entire operations are managed. Following the tender process, the company assigned the implementation project to Common MS, given the guarantee offered by its experience with other financial institutions and that of its project team.
The need for coordinated management
The implementation process was initiated completely from scratch regarding infrastructure and technology, as well as the processes and business. The project required constant contact between the managers of the various departments involved in the project: Systems, Risks, Traders, Quants and Back Office. This solution needed to be integrated with all the Front Office processes, in addition to downstream (Accounting, Settlements, Payments, Confirmations, Risks, etc.).
At Common MS, we bring the knowledge previously acquired when working with other leading financial institutions in the area of quantitative analysis and in the development and integration of libraries, in addition to our expertise when it comes to the Murex solution itself.
Agile methodology was used to manage the project, and at each sprint new functions were delivered to the product owner. The project team met all agreed deadlines with no delay and delivering exactly what was requested. The validation and testing phases were rigorous. Once moved to production, no significant incidences were reported in the stabilisation phases or in the subsequent support and maintenance phases. Given the success of this project, the client wishes to continue evolving this software.