ABN AMRO needed to replace its market data cleansing system to provide real-time control of price and reference information quality. Key concerns for the client included:
- Price Quality: The bank needed to automate the cleansing process as much as possible to cope with increased volumes while using fewer resources
- Responsiveness to New Business: New instruments and file deliveries had to be introduced more quickly than under the previous system which required the involvement of experienced database administrators
- Performance: The bank was looking for a system which could provide a same-day response to the price cleansing cycle and the publication of price histories for risk management purposes
- Self-sufficiency: The IT & Operations teams wanted more flexibility to configure the system themselves to meet changing requirements
- Rapid Implementation: Given the circumstances surrounding the project, it was essential that the replacement system be brought live within fixed deadlines and to replace the existing system capabilities with the minimum of disruption to subscribers.
- Proxy Calculations: The system had to be able to derive prices for proxy instruments, such as long-dated forward FX and zero coupon rates, using the bank’s own calculation libraries