Case study direct market access application banking luxoft for a top ten global investment bank
For more information about Luxoft, visitwww.luxoft.comwww.luxoft.com/financial-services/case studyDirect Market Access ApplicationSummary13.09.2012Develop a direct market access system for low latency data transfer to andfrom worldwide stock and derivatives exchanges into the bank’s tradingapplications.uu Client: A top ten global investment bankuu Business Area: Equities and equity derivatives trading, Front Officeuu Asset Classes: Equities, equity derivativesuu Technology Set: C++, Java, Solaris, Linux, Windows, ACE, Boost,Rational Purify, Rational Quantify, Rational Pure Coverage, Flexelint,Clearase, Doxygen, Proprietary Exchange Adapters, FIX/FAST Protocoluu Integration: Global exchanges (UK, Europe, USA, APAC) and trading,pricing, and portfolio management applicationsuu User Profile: Tradersuu Geography: UK, Russiauu Relationships Status: Ongoing ODC, T&Muu Services Provided: Development, QA/Testing, Maintenanceuu Team Size: Up to 5 team membersuu Duration: 2+ years development and ongoing maintenance
Business ChallengeLuxoft Delivered SolutionIn order to lower costs and increase visibility to trade opportunities, thebank initiated a project to develop a direct market access solution for theirequities and derivatives business, with support for multi-leg trading.The high-level requirements for the system were:uu Compliance with the highest level of service in stability, performanceand latencyuu Flexibility in modifying and adding data exchange formatsuu Seamless integration with multiple bank applications, includingalgorithmic trading, manual trading and risk managementLuxoft’s team of business and technical experts designed a system that metall of the business requirements and delivered several new business-criticalcapabilities. The innovative system architecture was designed for optimalperformance and stability. The key features of Luxoft’s direct market accesssolution were:uu Enhanced support for automated trading through the use of multipletrading connectors to improve performanceuu Creation of benchmarks to continually monitor and improve tradingconnector performanceuu Constructed using the Financial Information Exchange (FIX)communication standards for flexibility and scalabilityuu FAST protocol data standard is used for improved message rates andreduced bandwidth requirementsuu Integrates multiple market data streamsThe Luxoft team conducted comprehensive and rigorous code reviews andtest coverage to ensure system reliability and stability after each release, allof which were delivered on time and within the budget.02Luxoft - Case Study
03Luxoft - Case StudyBenefitsCustomer FeedbackLuxoft’s solution provided the bank’s equities and derivatives tradingbusiness with the following benefits:uu Capabilities that support advanced trading strategies and algorithmsthrough the use of new, low-latency connectorsuu Reduced costs through integration between the exchanges and thebank’s trading and portfolio management applicationsuu Significantly improved performance through multiple tradingconnectorsuu A flexible, scalable system architecture to keep maintenance andsupport costs lowuu Automated benchmarking to maintain optimal system performanceDetailed feedback will be provided on request.