Case study back office solution banking luxoft for global wealth management group
For more information about Luxoft, visitwww.luxoft.comwww.luxoft.com/financial-services/case studyBack Office Solution for Post‐TradeProcessing and AccountingSummary13.09.2012Extend the functionality of the Aladdin-Systems Securities platform tosupport post-trade processing, accounting, and the associated internalaudit requirements.uu Client: Global Wealth Management & Investment Banking Groupuu Business Area: Corporate Banking, Finance and Risk Management,Back Officeuu Technology Set: Aladdin, MS SQL, VB.NET, С#uu Integration: RECON, Aladdin, MICEX and RTSuu User Profile: Finance and Back Office Operations, Complianceuu Geography: Russiauu Relationships Status: T&Muu Services Provided: Full cycle: Business analysis, Development,QA/Testing, Maintenanceuu Team Size: 6 team membersuu Duration: 2.5 years
Business ChallengeLuxoft Delivered SolutionThe client’s existing Aladdin-Systems Securities platform neededcustomization for post-trade processing and compliance to the associatedRussian regulatory reporting requirements. The high-level businessrequirements included:uu Integrate the Aladdin Securities platform with trading and market datasources, Moscow Interbank Currency Exchange (MICEX) and RussianTrading System (RTS) stock exchange, via various trading terminals andapplicationsuu Receive clearing files and develop exchange reports based on Aladdintechnologyuu Enhance Aladdin’s back office post-trade processing, financialaccounting and reportinguu Consolidate trade data from various sources (i.e., the stock exchanges,Aladdin-Systems Securities, and Fidessa trading systems) for input to theexchange reconciliation system (RECON)uu Enhance security for internal auditing of all transactionsLuxoft’s team of technical and business domain experts developed thebusiness requirements with the objective to insure that the customizedfeatures and the overall system would remain stable and reliable after futureAladdin-Systems upgrades.In addition to successfully fulfilling all business requirements, Luxoftdeveloped a full set of regression testing scenarios that were used eachtime an enhancement or an Aladdin upgrade was deployed, insuring thatthe business critical operations were never impacted. The system wassuccessfully implemented on time and within the budget.02Luxoft - Case Study
03Luxoft - Case StudyBenefitsCustomer FeedbackLuxoft’s solution provided the global wealth management and investmentbanking group with the following benefits in their asset managementprocesses:uu Greatly reduced future maintenance costs and the risk of downtime byproviding a clean development of the customized Aladdin platformuu Reduced the risk of additional costs that could be incurred fromregulatory non-complianceuu Reduced operational costs and improved cash management byintegrating the Aladdin and Fidessa trade data with the exchangereconciliation system (RECON)uu Improved risk management through enhanced, secure internal auditingDetailed feedback will be provided on request..