OTC Derivatives

Developing a Hub that would be used for managing over-the-counter (OTC) derivatives but with minimal intermediation or regulation.

Executive Summary / Key Highlights

Over 13 years of development.
One of the leading global financial institutions.
Teams in Boston, Poland, India, China.
Solution for the middle and back-office.

The Client:

‍One of the world's largest asset management and financial services institutions.

Problem Statement:

The middle and back-office needed a modern software solution for transaction lifecycle management, accounting, record-keeping, pricing, cash settlements and margin movements of OTC Derivatives. This client has worked with Maxima before and asked us for help on this project.‍

Solution:

‍We decided to develop a Hub that would be used for managing over-the-counter (OTC) derivatives but with minimal intermediation or regulation. It was a particularly complex project requiring the best programmers, that’s why we decided to engage our most experienced developers in the financial sector.

During the project:

Derivatives can be used to either mitigate risk or assume risk with the expectation of commensurate reward. To provide top-notch functioning of the project, we decided to base the design and development on Java components including J2EE. Most of the development was based on Oracle SQL/PLSQL. The queueing technology that we used was MQ and Kafka.

Results:

Our team managed to develop a system that is critical for our client. It was one of the most ambitious projects that we participated in, the whole development took over 13 years and it is still under construction. The developers are monitoring it and ensuring that everything works perfectly.