Background and challenge:
The client’s business operations are spinning off a sub-division that will operate as an independent company in the future. For legal reasons this new entity now requires its own market data platform including front-end support.
The existing client environment is to be adapted to a new Market Data Platform to be implemented. For this purpose, the packaging of the applications is to be considered, which will be applied in the new release management process. Furthermore, all connections for the supply of the end applications of the customer to the data feeds of Refinitiv and Bloomberg will be newly established. Oraise was commissioned to accompany the customer already in the implementation phase of the platform. This way the customer ensures early, that an optimised operation of the terminals, as well as the market data systems can be warranted. For the rollout and the installations, the cooperation with an external service provider had to to be coordinated. Compliance with a deadline of 3 months until commissioning must also be ensured.
The solution components and steps of realization:
The customer provided:
– The connectivity to the data feeds of the relevant vendors and the necessary licensing.
– The basic systems and network infrastructure, as well as the necessary end devices.
The implementation was done in a series of implementation steps within about three months. These included:
Provision of configuration scripts and packaging, test runs of the front-end software
Installation and of the platform components, establishing connectivity and functional testing
Planning, coordination and rollout of the installation with the external service provider
For the operation and servicing of the platform, as well as the support of the users, oraise was commissioned and corresponding service level agreements were concluded, which specifically regulate the following aspects:
2nd and 3rd level support for the market data terminals of the vendors and add-ins including incident management
1st and 2nd level support for the Refinitiv Market Data System including incident management
The support of the Bloomberg backend remains with the customer, oraise provides advisory capacities in this respect.
Ongoing release and change management for all supported components according to jointly defined processes.
The SLA framework includes proactive monitoring, response times and other parameters, ITIL conformity of the service and operating model, as well as active service management by permanently assigned service managers.
The decisive advantages for the customer in this case were:
oraise’s many years of experience and know-how in installation and operational support of corresponding Market Data platforms and the frontends available on them.
The full compliance and proven service concept of oraise
Attractive financial framework in terms of one-off and ongoing expenditure.
Reliable realisation within a specified and agreed timeframe.