IMP Leads Testing Workstream of Middle-Office Lift-out
Client: New York investment manager who provides services to institutions, financial intermediaries, sovereign wealth funds, and private clients around the world with AUM of over $170 Billion
- Client Need: The Investment Technology Team required data and workflow experts in the top order management systems to lead their front office technology integration and testing workstreams in conjunction with the outsourcing of their middle-office to a leading service provider.
- Why IMP Was Chosen: IMP had an expert understanding of the reporting and order management systems that were being retained and required seamless integration with the middle-office service provider. Understanding the data model, decision support, trading workflows, together with a deep understanding of the complex security types was a key factor in selecting IMP. In addition, IMP had knowledge of the outsourcing provider systems which added significant value in understanding how to properly integrate the retained client applications into the provider systems.
- IMP Solution: IMP assembled a team to create and implement a robust integration and testing plan that encompassed multiple reporting and trade order management systems. This plan not only included basic unit testing, but also complex front office use cases to support the trading of derivatives, currency forwards, swaps, and other alternative investments. The unique challenges of this project included the complexity of the security types being transmitted and the client's desire to minimize or eliminate any change to the retained applications.
- Outcome: As a result of IMP's management of the project's testing workstream, all major issues were uncovered well before go-live, resulting in a seamless transition for the front-office and the technology team.