Trade capture, risk reporting and middle office operational support. Man Investments is a global leader in alternative investments providing innovative products and tailor-made solutions to private and institutional investors.
Man decided to set up a secondary market to trade in their own underlying products. This allowed them to provide their customers with greater trading flexibility — avoiding the usual lock-in periods and restricted dealing calendars offered by traditional funds in the primary market. The secondary market service was to be launched in Switzerland and required approval by the Swiss regulator, including the provision of adequate systems to support the running of the market. A deadline was set for the launch (and regulatory approval) and there were only four months available to deliver the system. This needed to provide trade capture integration with back office share registry and accounting systems, position and risk reporting. The solution also needed to integrate with the MI Trade ecommerce website and was the first project to be built according to Man’s new enterprise architecture standards.
Digiterre’s team worked closely with Man’s business and technology staff using an Agile approach to deliver the project. The solution was delivered on time, meeting the requirements of the business and the regulator and the secondary market business was launched as planned. We subsequently delivered further phases of enhancements to the system and ultimately handed it over to an internal team for support.
The system and Digiterre’s presence as a strategic delivery partner enabled Man to respond quickly to changing business priorities. The system resulted in Man winning the “Best use of business-to-business ecommerce” category at the Financial Sector Technology Awards.
“This was the first time we had undertaken an Agile project with a partner. We chose Digiterre because of their focus on the investment management sector and proven ability to deliver innovative software to tight timescales using an Agile approach.”