Overview

Allocation management is the part of the derivatives clearing process that ensures trades are allocated to different accounts according to client instructions. A major challenge with allocation matching is the aggregation and segregation of client side trades, because the matching engine has to check every number of factorial combinations to ensure all the correct matches are made.
To comply with clearing process rules, all allocations must be completed prior to clearing and before the market cutoff. Our customer therefore wanted an allocation system with the proven capacity to process peak trade volumes more effectively.

Solution

Our specialists worked closely with the bank’s technical team to scope options and conduct proof of concepts using different data fabric solutions. After analyzing the test results, the decision was taken to start using Apache Ignite.
Migration from customized core application framework to Apache Ignite was seamless with virtually no changes to the external interfaces. It also allowed us to reuse the bank’s Window’s Presentation Foundation (WPF)-based GUI, which reduced labor and minimized delivery time.

Benefit

The successful migration to Apache Ignite delivered major benefits to the bank, including:
- Significantly increased processing performance and capacity
- Reduced operating costs due to improved utilization of hardware resources
- A technically robust, scalable solution to support further business growth

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