DMA
Building and Managing the Test Service Centre (TSC) for a Large Investment Bank
Business Need
The customer provides DMA facility to its Institutional Investment Clients (buy-side) and the business is experiencing huge growth in terms of new client adoption as well as the trade volumes. The daily equity trade volume through the DMA system is currently at around 3 to 4 million transactions. This has put pressure on the existing systems in terms of
- Ensuring low latency during the trade
- Ensuring high service levels in terms of supporting existing as well as new clients
- Contain and reduce operating costs
Challenges and Requirements
- Meeting demanding service levels of Customer's clients
- In new clients adoption for the customer
- In ensuring speed of trade execution for the customer's clients
- In ensuring that the FIX connectivity from the clients or to the execution venues are always up and running with near zero latency
- Cost Reduction
- Immediate cost reduction to increase the profitability from DMA business
HCL Solution
HCL took over multiple DMA related activities from the customer to help them battle the challenges and focus on innovation:
- Supporting the Equity Order Management System that provides Direct Market Access to its Institutional Investment Clients. HCL took the responsibility of new client adoption on the customer's DMA system so as to meet the growing business there.
- Ensuring low latency in trade through supporting the client connectivity to and from the OMS to different Exchanges in US and Europe.
- Monitoring, Analysis and Resolution of FIX connectivity issues to and from the OMS that handles around 3 to 4 million Equity transactions daily.
- Usage of third party testing tools like TTCert and TTAlert to ensure high service levels on speed of trade execution
Business Benefits
- Meeting demanding service levels of the customer's clients resulted in building good client relationships and growing DMA business for the customer
- Immediate reduction in operating costs and increased profitability from the DMA business
