POINT to PORT - Time is Ticking
Right around July, it can feel like the summer will never end. Yet, before we know it, the Barclays POINT to Bloomberg PORT transition will be here faster than a back to school supply sale at Target.
What does that mean for firms who are still struggling with their data migration?
First, if your firm hasn’t started anything yet, it’s safe to guess that you will likely miss the deadline. As of July, firms should already have a contract with their new vendor, and should be starting the migra- tion process relatively soon.
Next, firms should be finishing up the analysis on up/downstream impacts and in/out of scope items this month in order to stay on target.
There are several preventative measures that a firm should take to review the workflow process.
It’s the first day after the cut-off for the POINT transition, and you are just settling down at your desk with the Wall Street Journal and a cup of hot coffee. You log in to your beloved performance system, expecting everything to look the same as the day before, and...surprise! You dropped the ball on the POINT to PORT transition.
Rewind back to January 2017. What could you have done differently?
In a best case scenario, we’re told that PORT will mimic POINT in a “plug-and-play” type capacity. Meaning, users will be able to plug out from POINT and plug in to PORT, without any major upsets. For the purpose of this article, we’ll continue to assume a best case scenario for a feature-to-feature match on the systems-side. In that case, where could this transition go wrong?....Continue Reading
Sample Barclays POINT to Bloomberg PORT Conversion Roadmap
Email IMP at email@example.com for additional guidance on project roadmaps or general questions regarding the POINT to PORT transition.
Must-ask Vendor Questions When Transitioning from Barclays POINT
Are you in the process of issuing an RFP? Request the must-ask vendor questions to use as a reference list for what you should know when transitioning from POINT. Sections include: Upload/Export Process, Product Features and Analytics, Index Data, Cost Tiers and Implementation. Email firstname.lastname@example.org for direct access.
What We Have Heard
- Bloomberg estimates 80-85% retention of Barclays employees
- A data hub will be created for the conversion
- The goal is to make the transition “seamless” for users (i.e. they won’t notice a difference in importing/exporting data along with functionality) – keep the “status quo”
- Bloomberg to build enhancements to PORT over a 12 month period
- There will be a 6 month window for clients to migrate from POINT to PORT
- Some indices will be switching to Bval pricing
- A limited version of BB may be released for just the PORT functionality, roughly estimated at 5k per person per terminal