Treasury and OTC Settlements
Forex, metals and rates settled on one platform.
1 enginefor forex, precious metals and interest rate derivatives
CHF 10B+daily volumes across the division’s platforms
Retiredlegacy settlement, payment and reconciliation engines
The problem
Settlement was spread over many applications, built in house or bought, one for each asset class. They overlapped, cost a lot to run, and every new regulation such as MiFID or PRIIPs had to be built into each of them. Delivery was slow and testing hard.
The answer was one streaming settlement engine for all of them, and a plan to retire the rest.
The idea
1ModelOne settlement data model, wrapping the cash record and the stock record.
2StreamTrades flow as events into one engine, whatever the asset class.
3IntegrateFinance, booking, payments, SWIFT, documents and client data through one interface catalogue.
4RetireThe old engines switched off one by one, on a roadmap.
What was built
- The OTC Factory. A central, standard settlement engine across derivative asset classes, designed and its delivery overseen.
- The settlement data model. Built with the central architecture team, around the cash and stock records.
- Integration. Event streaming and service interfaces to ERP, CRM, finance, booking, payments, SWIFT and document management.
- Delivery practice. Toolchain selection and DevOps adoption, and every tool managed from adoption to retirement.
- Decommissioning. A structured programme that retired settlement, payment and reconciliation engines to cut cost and complexity.
- Faster test environments. Data virtualisation that shrank copies and sped up refreshes from production to test.
Built with