Situation:

CIO, Wholesale Bank was missing business opportunities due to an uncoordinated approach to information gathering and Risk Management.

Critical Business Issues:

• Low quality risk management diagnostics.
• Business users' decision-making capability impacted by poor technology performance.
• Significant IT maintenance overheads.
• High cost of multiple set of Market Data Vendors.

Reasons:

• Poor quality data resulted in low quality Risk Management diagnostics.
• Time between market data collection to market data application was significant (up to one day) so the decision-making capability was not fast enough to exploit market opportunities.
• Multiple market data sources across organisation caused significant maintenance overheads.
• Different market data sources could not be leveraged to generate derived market data sets in order to reduce the number of Market Data Vendors whilst increasing the universe of market data.

Capabilities Needed:

A centralised market data strategy.

Code Red Provided:

A centralised market data solution based on Asset Control, a leading market data warehouse application.

Results:

The client was given a Capital Adequacy rating of 3.5 (3 is the lowest, 5.5 is the highest) by the Regulators which reduced costs and improved profits worth in excess of £50m per year.

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