Bloomberg AIM Implementation

Background:

A medium sized London based asset manager found that their current infrastructure and business processes were not sufficiently scalable to enable them to keep up with client demands, preventing them from growing their business and taking on new clients. The asset manager, being reliant upon manual processes throughout the organisation, required a more scalable order management solution with; electronic trading, integrated pre-trade compliance, automated settlement and overnight integration with existing systems and 3rd parties.

The asset manager chose Bloomberg AIM as their solution, including compliance, STP and integration modules. The systems operate in “the Cloud”, with outsourced IT support and data centre management.

The implementation involved redefining business processes throughout; from fund manager analysis and management, through compliance and dealing, to operations and integration with office data management. The project also included integration with the client’s portfolio accounting system as well as replacement of their security and price data provider with Bloomberg AIM.

Reformis Solution

Having limited internal resources, with insufficient bandwidth to take on a project affecting the whole of the organisation, the client engaged Reformis to manage the Bloomberg AIM implementation.

The engagement required specialist knowledge and understanding of the client’s business, as well as fundamental understanding of best practices within areas new to the organisation, such as data integration, system-driven pre-trade compliance, business process workflows and automation.

Reformis was instrumental in ensuring that all 3rd parties and vendors (including IT support and infrastructure, Bloomberg, existing data providers, portfolio accounting and custodians) were engaged and committed to the project. In addition to coordination and management, ReformIS also provided subject matter expertise within the areas most affected by the implementation, such as compliance, data management, integration and business process re-engineering.

The asset management organisation benefited from Reformis’ ability to quickly understand requirements and assist in implementing a solution geared towards specific client needs. Being a lean organisation, this enabled existing staff to continue with business as usual, whilst relying on Reformis to efficiently manage the implementation.

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