One of the main areas of focus with IT projects is cost and time efficiency, especially when improving existing IT platforms or applications, but also when introducing new ones. To keep projects within plan and budget, banks need partners who are able to offer a detailed understanding of financial services. As an industry specialist, GFT offers the combined knowledge and experience of the ETF derivative market and high performance web-based solutions – thus making it possible to build bespoke IT platforms which are not only capable of enhancing liquidity, but which also improve transparency and reduce fragmentation.

The challenge

Successful entry into the European market

  • Source was preparing to enter the European ETF market; it knew that success would depend on its ability to handle significantly larger daily transaction flows than current providers
  • Source's aim was to build a platform to make the ETF creation and redemption process more efficient; its brief for GFT was to build and operate a bespoke IT platform for the entire enterprise

The engagement

Build and operate a bespoke IT platform

  • Working with Source and its partners, Assenagon and Bank of America, GFT developed a solution called ETF Manager, designing, developing and implementing a web-based trading platform and workflow tool for creating and redeeming ETFs in a multi-party trading environment
  • GFT provided users with a powerful tool and a user-friendly platform. By combining our in-depth understanding of the ETF derivative market and our inhouse experience working with time-critical, high-performance internet-based applications, GFT provided Source’s partners with the required reassurance that all schedules were realistic. Application support was offered through our nearshore facilities in Lodz, Poland

The benefit

Ongoing support and planning

  • GFT provides first, second and third level support for the exchange and marketing platform. It is also responsible for planning future expansion of and extensions to the service. Our innovative and flexible solution enabled Source to win a technical innovation prize at the 2009 Structured Product Awards
  • The system is based on open architecture and is designed to deliver enhanced liquidity, increased transparency, reduced fragmentation, diminished counterparty risk and improved market performance
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To learn how your business can adopt our approach, please get in touch

Graeme Wood

Joint Post Trade Practice Lead