Top 5 Investment Bank

One of the world’s leading global financial services firms which provides a full suite of investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management, and private equity.

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Customer Objectives

This Bank books an average of 100,000 derivatives trades a day into its system. Although that isn’t a large number in terms of actual trades, the complexity of the derivatives business creates an intricate data environment. The 100,000 trades typically result in about 32 million live deals in the system at any one time, generating cash flow risks in excess of $100 million. Trade amendments, which occur frequently, compound the dynamic workflow.

The Bank determined that to capitalize on the opportunities the 2008 financial crisis created for well-capitalized firms it needed to ensure both cost and operational efficiency. Though not initiated in response to regulatory requirements, it was recognized that achieving operational efficiency also benefited compliance reporting.

The MarkLogic Solution

In addition to the global, real-time 24/7/365 single, unified, and accurate view of derivatives trades, the Bank:

  • Replaced 20 Sybase databases with a single MarkLogic database
  • Achieved a dramatic reduction in maintenance costs: 1 system versus 20, 1 DBA versus 5-10
  • Is seeing an ability to develop and deploy new software more quickly

MarkLogic Benefits

A financial services leader, the Bank recognized the opportunity the 2008 financial crisis created for well-capitalized, innovative firms to gain market share. For their strategic initiative to ensure cost and operational efficiency by reengineering their disparate, legacy derivatives trading architecture the Bank selected MarkLogic. The new platform enables faster time to market for new products, makes trade information retrievable as well as actionable in nano-seconds, and enhances compliance reporting.

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