Global Pricing Platform – Delivered Remotely

Background:

A large Global Asset Management firm with operations based in Chicago chose to replace its current pricing platform. Responding to the limitations of the current system they wanted to make the following improvements:
  • Replace their 15-year-old system to offer flexibility to support more sophisticated client requirements
  • Mitigate manual operations and eliminate the heavy use of Excel spreadsheets
  • Fit the future SOA architecture
  • Speed up the current processes
  • Create a Reference Data Hub

The aim of the new platform was to take the current pricing feeds received (i.e. Reuters, Bloomberg, JPM, S&P, ICE, others) and enrich, consolidate and distribute the golden copies to the downstream systems throughout the organization. The new solution also had to allow users to clear exceptions and visualize data in a user-friendly way.

After successfully deploying the Forex implementation to production, the client wanted to address more critical data (Fixed Income and Equity) This data consisted of approximately 500,000 records per day loaded from 80 different sources.

This new data created other challenges to tackle:

  • Account for unequal volume distribution throughout the day
  • The need for a truly scalable solution build
  • Implement complex business rules which could impact performance
  • Ensure a good UI customer experience regardless of the volume
  • Meet all global SLA’s
  • Help the development team to work in an Agile manner
  • The work was to be executed by Reformis in a remote manner whilst leading and coordinating the project efficiently

Reformis Solution

A combination of Reformis and client resources, built and implemented the solution over a two-year period.

The challenge was both technical and organizational. The team was co-located in different geographical areas and time zones and most people were new to Agile methodology.

The teams used cloud-based technology and secure collaboration tools to gather requirements, host virtual meetings and daily scrum calls and maintain open communication with the client.

Some fundamental factors of success in this project were:

  • Discipline during the scrum meetings over remote platforms
  • Define developer guidelines to ensure quality and to ease the integration of any new joiner and summarize the developer journey on the project
  • Create a full set of documentation via an online Wiki
  • Automate the deployment of all development from a central location
  • Create generic solutions to decrease the maintenance and speed up any future development of similar solutions where possible
  • Use Jira as a centralized location for requirements and Q&A to quickly track requirements, and any subsequent changes of a specific user story
  • Ensure the appropriate level of business engagement to address schedule conflicts, sprint planning, demo and review as needed
  • Work closely with the client infrastructure team to identify bottlenecks or source of performance improvement, and escalate any limitations as soon as possible

The project was successfully delivered on time. Client developers become comfortable working with technologies and processes that were new to the organization.

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