Top Five Investment Bank Reduces Risk and Increases Efficiencies with the MarkLogic® Database
Company Size
1,000+
Country
- Worldwide
Product
- MarkLogic Database
Tech Stack
- NoSQL
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
Technology Category
- Application Infrastructure & Middleware - Database Management & Storage
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Regulatory Compliance Monitoring
Services
- System Integration
About The Customer
This top five investment bank's highly respected derivatives team is responsible for over one- third of the world's total derivatives trades. The derivatives practice has a global footprint with teams that support credit, interest rate, equity and over the counter (OTC) derivatives in every region of the world. The bank has earned numerous industry awards and is recognized for its product innovations.
The Challenge
The bank's management recognized the importance of having a real-time comprehensive global view of its positions in order to quickly and cost-effectively make smart business decisions. The existing system, based on a relational database, was comprised of multiple installations around the world. The legacy system was not fast enough to respond to growing requirements, and the data integration was simply not feasible for the bank's needs. For example, the existing system was unable to deliver real-time alerts to manage market and counterparty credit positions in the desired timeframe. The team was tasked with preventing errors, reducing time and complexity, and creating an agile infrastructure.
The Solution
After the bank's careful investigation, the choice was clear: Only the MarkLogicR database could address all concerns with additional benefits of improved performance, scalability, faster time to market, and a much lower total cost of ownership (TCO). The bank built a derivatives trade store based on the MarkLogic database, replacing the 20 disparate batch-processing servers with a single operational trade store. This single MarkLogic Operational Trade Store seamlessly supports high throughput operationally critical settlements and related processes and concurrently supports ad-hoc queries across all trades from hundreds of users across the bank, as well as a range of large reports and end-of-day analysis processes (such as netting).
Operational Impact
Quantitative Benefit
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