Expansion Market Conformity Checks

Initial Situation

Driven by Brexit, a major bank relocated its trading business with EU customers from London to Frankfurt. As a result, the number of trades to be verified for market conformity increased significantly. Moreover, the task became more complex, as the universe of traded products was also significantly expanded. Thus, additional verification logics as well as independent market and valuation data and, if necessary, master data was needed.

Project Scope

  • Establishment of an IT infrastructure for the provision of relevant trades including all relevant business information.
  • Design and implementation of appropriate verification methods including configuration parameters for the different product groups.
  • Integration of various market data providers into the verification process.
  • Audit-proof documentation of methods and processes in compliance with regulatory requirements.

Our Contribution

  • Developing and implementing a technical and content-related target image for mapping the regulatory requirement.
  • Developing a verification software as an end-user application in Python for automated control of all relevant transactions. Implementation as an agile software project in GitLab with short release cycles and close involvement of the product owners.
  • Developing and calibrating suitable product-specific verification rules.
  • Creatin audit-proof documentation of the verification rules and processes.
  • Project work including planning and reporting.
  • Supporting day-to-day business.

Customer Benefit

By the end of the project, the fulfilment of the regulatory requirements regarding market conformity checks was ensured and certified.

Relevant Skills/Tools

  • Product knowledge (certificates, repos, security lending, OTC derivatives, bonds)
  • Relevant regulatory requirements
  • Python
  • Oracle SQL
  • GitLab, JIRA
  • Excel VBA
  • SAP Business Objects
  • Refinitive Datascope
  • Bloomberg Terminal

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