Case Study - Financial Services: Exchange and Equity Transactions

Project: Oracle Database Migration and Technical Support

Executive Summary This financial clearing corporation clears trades worth over a trillion dollars daily. It is one of the major clearing firms for Wall Street, is a critical link in the US equity markets, and must be ‘always on’ due to its importance in global financial markets.

The Business Challenge The primary revenue-generating business unit was experiencing risk in maintaining a core set of resources for critical databases and applications. Costs were climbing and there was significant pressure to move to an offshore model to reduce cost. However, the iterative, 2-way process of database architecture and maintenance was determined to be a difficult function to manage from a distant location that is multiple time zones away. The current IT systems supporting this business process has several technologies which are becoming difficult to maintain, and costly to adapt to the ever changing needs of the business. The company’s core line of business is converting to an Oracle based infrastructure to stay current with technical strategies. Due to their lack of experienced resources and strategy in converting this mission-critical, revenue-generating system to a new framework environment, the business outsourced this multi-faceted project to FirstShore on the breadth of its capabilities, strength of delivery, and cost effective pricing model.

Challenge Being Met Working in partnership with the client’s business analysts, FirstShore Oracle Technicians are analyzing and building strategic architectures, defining improved business processes, and maintaining the existing architecture and databases. Members of the FirstShore team were called upon to develop a new system interface, business-logic architecture that closely supports the process, and ultimately, to design and develop the new core system and migration strategy from the former system.

Services Provided
Outsourced technical competency relative to the following:

• Database design
• Business process engineering and business analysis
• Testing methodologies and procedures
• Database architecture
• Peak workload management

Benefits Being Delivered
The FirstShore team has enabled the client to achieve:

• Stability in database support and architecture
• Reduced IT support costs
  

< < Back