Top 5 Investment Bank Achieves Single Source of Truth
Company Size
1,000+
Country
- Worldwide
Product
- MarkLogic
Tech Stack
- Oracle
- Sybase
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
Technology Category
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Real-Time Location System (RTLS)
Services
- System Integration
About The Customer
The customer is one of the world's top investment banks, responsible for over one-third of the world's total derivatives trades. Their derivatives practice has a global footprint with teams that support credit, interest rate, and equity derivatives in every region of the world. The Bank has earned numerous industry awards and is recognized for its product innovations. The Bank's derivatives team is highly respected and plays a significant role in the global derivatives market.
The Challenge
The Bank, a major player in the derivatives market, was struggling with a legacy system that was slow, inefficient, and unable to deliver real-time alerts to manage market and counterparty credit positions in the desired timeframe. The existing system, based on a relational database, was comprised of multiple installations around the world, leading to duplicated, redundant, incomplete, and inconsistent data. This made risk management fallible and time-consuming, and the Bank recognized the importance of having a real-time global view of its positions.
The Solution
The Bank chose to build a derivatives trade store based on MarkLogic, replacing the incumbent technologies. This move replaced the 20 disparate batch-processing servers with a single operational trade store, enabling the Bank to know its market and credit counterparty positions in real-time, providing the ability to act quickly to mitigate risk. The accuracy and completeness of the data allows the Bank and its regulators to confidently rely on the metrics and stress test results it reports. The selection process included upgrading existing Oracle and Sybase technology. Meeting all the new regulatory requirements was also a major factor in the decision as the Bank looked to maximize its investment. After careful investigation, the Bank found that only MarkLogic could meet both needs plus provide better performance, scalability, faster development for future requirements and implementation, and a much lower total cost of ownership (TCO).
Operational Impact
Quantitative Benefit
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