BJSS DEVELOPED A TRADE MATCHING PLATFORM THAT HANDLES >US$900 BILLION EVERY DAY – 60% OF THE WORLD’S INTERBANK FX TRADES

The client’s markets experienced a period of rapid change and growth driven by the rise of Hedge Funds and the increasing use of Prime Brokerage trading models. This led to demands for increased performance and new functionality which the client’s existing technology was unable to meet.

The existing system was only capable of supporting two asset classes and it only operated on a single server. This precluded the level of scalability and enhancement that market conditions dictated was necessary. It also ran on end-of-life hardware and did not offer the performance needed for automated trading.

A new system was needed to replicate existing functionality, but also cater to increased scalability and performance for a growing user base and a range of asset classes. Non-functional requirements were ambitious: high volumes of multiple thousands of transactions every second were expected to grow, and latency requirements were sub-1ms.

A TRUSTED APPROACH TO AGILE DELIVERY

To tackle this challenge, the client selected BJSS due to its maturity in Agile delivery. From previous engagements with BJSS, the client was aware of BJSS’ experience and the coaching it can provide around the Agile process. The proven Enterprise Agile® approach gave the client the confidence that the project would be a success.

A phased renewal of the entire service

BJSS Business Analysts worked closely with the client team to understand both functional and non-functional requirements and define a programme to effect a phased renewal of the entire service.

The client’s standard internal development process was based on a traditional Waterfall approach. While it was familiar to the client’s management team, change and risk management were extremely challenging. Embarking on a Waterfall approach to this major project would have made it difficult to plan.

BJSS worked with the client’s project team to introduce the BJSS Enterprise Agile® process, which follows a more iterative and adaptive process.

A BJSS team of architects, project managers, developers and testers designed and developed a heavily multi-threaded, highly scalable distributed system capable of meeting the business challenges within a flexible state-of-the-art architecture.

In order to address the non-functional requirements, BJSS worked closely with the client’s database and development language vendors to exploit maximum performance from their technology. A number of Proof-of-Concept projects were undertaken in conjunction with major third-party vendors to identify their best product offerings to underpin the system.

The system meets stringent 24x7 availability requirements providing fully automated recovery from any single point of failure within strict timescales.

ENABLING THE DELIVERY OF AN EXTREMELY CHALLENGING TECHNICAL SOLUTION

The BJSS Enterprise Agile® approach, dovetailed with the client’s existing project governance process. This enabled the delivery of an extremely challenging technical solution, which explored the boundaries of the various foundation products and technologies while meeting a very aggressive global delivery schedule.

Their maturity with Agile certainly sets them apart. Everyone you talk to at BJSS has fully embraced it. It is a fantastic method, and they are great at coaching their clients through the process, especially if they are unfamiliar with Agile.

Vice President

Global Financial Services Group