Client : A well established mid-sized securities trading firm in Switzerland

The client belongs to a group having far flung operations globally, with its headquarters in Lausanne, Switzerland. It specializes in providing securities trading and related financial services to individuals and institutions. Started in 1992, the organization has grown in size and stature and presently conducts business in USA and several European countries, in addition to those in Switzerland. In 1999, the group established additional business offices at important financial centers in Asia such as Hong Kong and Singapore. The organization has also developed its presence in Africa and Latin America.

The client is recognized as an industry leader in trading of securities issued by emerging market obligors. Though the company’s trading activities (Bonds, Equities, Swaps, Convertibles) were earlier greatly aided by the financial data provided by Bloomberg and Reuters, the BackOffice systems were largely manual.

The client contracted the services of VAST to computerise their BackOffice operations.

The IBS system automated the Front Office and BackOffice processes related to Trade Ticketing, Payroll, Accounts etc. Employing the Trade Ticket Module of IBS, the trader(s) would enter the specific trade details related to issuer, instrument type, quantity, buy price, sell price, trader split percentages etc. on a screen, which will be captured into a centralized database. The BackOffice staff would be able to access these trade details through a corresponding screen, and enter additional trade details, after verifying the data input by the traders. Software alert features which have been provided, will serve to alert the trader(s) / BackOffice staff, as the case may be, when fresh trade data has been entered which needs to be verified / approved by the corresponding staff member. Customized management reports can be generated, on trade revenues accruing to the client, categorized by instrument type, currency, trader etc. Security features have been provided, which ensures that based on pre-assigned access rights, as defined by the client’s management, users can access only those items of information, as they are entitled to. A facility to securely access trade reports from remote sites has also been provided by IBS.

The IBS system has been implemented at Lausanne, New York and Hong Kong.

Total Project Effort 300 Person days           Team Size 5 (peak)
Technical Environment
Windows NT Server, Win 95 / Win NT clients SQL Server 6.5, Visual Basic 5.0, ActiveX

Location On-site – Switzerland Off shore - Bangalore

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