An investment bank needs to onboard brokers as part of business as usual activities, but also needs to streamline its internal systems and overall product offering when acquiring other companies.

The client

A leading investment bank.

A high frequency, low latency order management system

A leading high frequency, low latency order management system connects to a number of stock exchanges around the world, allowing brokers and other market participants trade financial instruments such as equities, futures, fixed rate contracts, among others. Due to constant competition between stock exchanges, the platform needs to be updated in order to accommodate changes in protocols, new products offered, and so on.

On the other hand, the bank sells its services to brokers and other market participants, which requires onboarding these clients according to their own particular needs and characteristics. The onboarding process consists mostly on adapting configuration parameters, but it may frequently hinge on software maintenance necessary supporting specific needs required by a given connection to a given market participant.

There’s also the aspect related to the way the investment bank runs its own business, in particular in regards to acquisition of other companies which may have their own order management systems or other systems, needing to be integrated into the overall service offering.

Evolving the overall platform

Business as usual consists on onboarding new customers and adjusting the order management system accordingly. There’s also need for implementation of new functionalities when the bank offers new products, or when innovation requires more streamlined processes.

Enabling a solution

Mathminds was engaged most of the time on code and configuration changes involving onboarding new clients. The engagement also included implementation of code necessary for accommodate changes in the way the trading system interact with stock exchanges. Mathminds was also particularly key when the bank acquired another company and when the bank streamlined internal processes, both requiring several new features in the order management system.

Conclusion

  • Attention to detail is key when dealing with billions of financial transactions a day;
  • Performance is key in the domain of low latency, high frequency trading.
  • Implementation of new processes happened without a single bug reported.