Fixed Income Multi Asset Trade STP
with eConnect Micro Data Service Platform
Our client, an international investment bank actively trades a number different OTC products through global markets and brokers.
The products include single and multi leg instruments & derivatives, trade confirmations of these products need to be booked into local and cross regional booking and P&L systems.
The venues and brokers provide a range of disparate mechanisms to electronically report trade confirmations. The bank must interface to all of these, yet ensure they have a reliable and scalable system to accurately capture the banks risk position and be able to on-board new products and venues in a timely manner.
- Trade booking can be delayed for hours due to missing reference or mapping data, preventing visibility of an accurate risk position
- Adding new markets or products, requires time consuming development, test and release cycles, to produce a new process
- No ability to store trades from all markets to the banks global trade store without changing every STP process
- Process start and restart times have become lengthy due to slow database initialisation
- No secondary or DR instances are deployed leaving the bank exposed to outages without clear visibility of its risk position
- Existing solution is formed of 25+ individual processes each with it’s own code base and no common core libraries
The Solution – eConnect Platform
- Build real time risk and trade booking blotters based on readily available platform data for an immediate risk view
- Add new products dynamically via admin GUI’s taking advantage of the platform dynamic data discovery
- Add new markets, destinations or assets by adding new components to the platform in isolation to other running services
- Store multi-market trades, with update history to the banks global trade store, using the platforms built in data storage technology
- Reduce risk of outages using the platforms ability to be globally distributed and automatically fail over to secondary processes
- Consolidate code by basing on eConnect Core and platform APIs, only requiring asset, source or destination specific additions
Build asset & region specific Trade Processors to dynamically aggregate raw trade data, before enriching & normalising
Utilise the platform Data Store to persist trades, without any extra effort
STP Mapping Data Store
Utilise the platform Data Store to hold common STP mapping & enrichment data
Add New Trade Destination
Add new trade destinations e.g. Risk or booking systems, simply by adding a new destination adapter that aggregates global trade data targeted to that destination
High level architecture of an STP Trade booking system running on the eConnect platform, a number of “out of the box” features allow it to: scale globally for multiple assets & regions, use platform trade store to persist any data on the platform, reduce operation risk by distributing the components, run redundant pairs with automatic failover, capture trade event information with micro second accuracy.
Add New Trade Sources
Add a new market for an existing asset type by simply adding a new Trade Source Adapter to the platform
Trade Booking Blotter
Monitor real time trade booking status with HTML GUI’s based on our
Banks Monitoring Systems