Case studies

Case studies
 
 

 

Low latency trading

Program management and solution design

Technology start-up company needed to deploy a low latency, proximity market data and order routing infrastructure into 16 European exchanges in 12 months; this was a multi million pound green field project. Alera’s services were engaged to programme manage the initative.

Alera was instrumental in the design of a cutting edge connectivity solution differentiated from contemporary offerings in the marketplace which also exceeded the needs of any modern trade execution businesses.
 
Alera subsequently modeled a project budget and implemented a cost tracking matrix for budget signoff from. With an approved budget Alera negotiated contracts with technology suppliers and progressed necessary agreements with exchanges.
 
To ensure control of the multi faceted implementation Alera designed a matrix project planning and monitoring system covering market data feeds, order routing access, network, data centres, hardware, and software suppliers to speed and synchronise deployment with connectivity at each client, exchange, and data supplier whilst ensuring controls on project expenditure. Alera’s proprietary matrix management systems has subsequently been successfully applied to enable professional and timely delivery of other complex projects.
 
In addition to implementing the entire low latency architecture in record time Alera packaged the service offerings and documented competitive SLAs for onboarding new clients.

Case Studies

Central matching engines and exchange connectivity

Market readiness Implementation for new Exchange system

A London domiciled regulated investment exchange needed to deploy a MiFID I compliant exchange trading system and decommission a legacy system.

Alera consulting was engaged to manage market members, market data suppliers(ISVs) and order routing technology houses (MDVs), to ensure they would be ready to operate on the new matching engine without interruption to their business operations.

To achieve this Alera implemented and operated a market readiness division enabling successful migration of all market participants to the new platform in seven months. Tasks included internal and external stakeholder communications, design and implementation of a web site, management information systems, test scripts, supporting technical documentation, and operational procedures.

The new exchange went live with all market Participants able to continue their business on the new exchange platform in addition a marked improvement in Participant's satisfaction was achieved.

Case Studies

Front to back office e-Commerce enterprise trading application

Deployment of Global eCommerce trading system

The largest African bank needed to deploy a strategic FX and commodities eCommerce trading system.

Alera was engaged to manage the greenfield program which involved outsourcing a portion of the infrastructure to low latency IaaS specialists and interfacing with backend systems in London and Johannesburg to implement a low latency market data feed and deploy a web based trading software. Once the system was running Alera also deployed a state of the art monitoring solution and operating model to ensure the highest levels of service.The trading infrastructure was delivered in record time to budget meeting client expectations.

Case Studies

 

Asset management

In 2005 the UK Government needed to restructure and modernise a fund management office of approximately 70 staff managing securities, properties, chattels and cash.

Alera programme managed the modernisation of the asset management processes and systems; this involved supervising multiple project streams across different operational divisions of the office, implementing new audit and management information systems whilst mitigating incumbent risks and managing stakeholder expectations.

The business was transferred to the private sector following a successful and timely completion of the modernisation

Case Studies

 

MiFID I and business re-engineering

Regulatory impact Industry analysis and strategic consulting  

A few months prior to the launch of the MiFID I regulations in Europe Alera completed an industry analysis to identify emerging opportunities for a IT and telco services company as a result of impending MiFID I legislation.

Alera identified and documented products and solutions that would emerge as a result of the new legislation, this analysis proved accurate enabling forward looking decisions ahead of the market as a result the business restructured and developed into a growing and successful IT services brand.

Case Studies

 

Global FIX order management

Integration management

Managed the implementation of buy side order routing connections to a Investment bank's global order management and execution system this involved implementation of internal connections for routing orders to the banks regional trading desk to provide a 24/7 global execution management service.
 
To streamline the buy side connectivity service Alera wrote and executed global order routing certification tests across multiple time zones and developed auditing, classification and management systems that significantly improved implementation times, global management and auditing of FIX connections.


Case Studies
 

Equity order management and execution

Business analysis and Project management

Alera project managed market connectivity of a tier one investment bank's equity trading system to the Borsa Italiana achieving significant cost, time to market and risk reduction. This was achieved through leverage of contacts at the Borsa, creative use of technology, accurate monitoring of project objectives, reporting, and risks.

In addition to delivering market connectivity in record time Alera to designed a price feed that ensured best execution prices to buy side, a cutting edge solution at the time and investigated a strategic solutions for the banks equity order management and execution system's exchange connectivity.

Alera also produced world class risk analysis, technology impact and feasibility studies, testing scripts, release notes and training materials for the bank.

Case Studies

Matching engines, payment and settlement infrastructure

Management and Technology consultant

Evaluated pre-trade, trading, and post trading technology solutions using SWOT, PORTER, and Boston Consulting methodologies for strategic marketing paper for a large Italian capital markets technology services company and Co-advisedsenior management on a two year international marketing strategy and documented an impementation plan for the strategy.Completed a competitive analysis for a successful bid to build and operate a  government’s inter bank settlement and payment system

Alera was also instrumental in the negotiation and documentation of Service Level Agreements for the management and operation of bond, equity and money markets and an operational Agreement between the technology provider and market operator of a leading global inter bank bond trading exchange.

Alera also acted as the client's Interim Account manager interfacing the largest investment houses in the city.


Case Studies


Cross asset PnL and Market Risk

Business Analysis

Alera analysed and verified fixed income, equity derivatives and futures, FX and equity prices developing a good understanding of pricing models for the convertible bonds desk of a global investment bank.Whilst providing the analysis services Alera also restructured the desk’s trading permissions validation of profit and loss figures and decision data (delta, gamma, beta, rho) in the PnL  and risk management system

Contact Details

 

Alessandro Rabbiosi
Managing Director

M: 07966 478645
E: info@aleraconsulting.co.uk
W: www.aleraconsulting.co.uk

 
© 2010 Alera Consulting Ltd