Case study

Trade novation to support Asset Manager merger

Client type: Global Asset Manager

 

Challenge: Following the completion of an asset manager merger, Custom Processing was approached to facilitate the transfer of selected funds and associated bilateral trades on OSTTRA MarkitWire and OSTTRA Trade Manager

 

OSTTRA Solution:

Following a review of the scope of work, the asset manager leveraged the Custom Processing team to handle all activities pertaining to the novation of trades across OSTTRA MarkitWire and OSTTRA Trade Manager

 

OSTTRA Delivered:
  • Novation of circa 1000 bilateral trades across OSTTRA  MarkitWire and OSTTRA Trade Manager
  • Scope definition, planning and delivery with cross-functional team involving OSTTRA, incoming and outgoing party colleagues
  • Testing, issue resolution and authorisation for successful delivery in Production Environment
  • Counterparty coordination and tracking across 16 major banks
  • Handling of all client communications, from inception to go-live
  • Fully documented project plan and runbook – treated as a joint project
  • Project constituted repeat business from the asset manager due to previous successfully completed project

 


Customer Benefits

  • Streamlined, flexible bespoke project management
  • Defined project structure
  • Defined roles and responsibilities with single point of contact
  • Dedicated project manager and execution resources
  • Automated execution solution
  • Substantial cost savings

Focused, Tried and Tested
  • A repeatable and systematic service from OSTTRA, subject to continuous enhancement and evolution
  • Relationship management with internal and external project resources dedicated to meeting customer expectations
  • Full testing and issue resolution via pre-production and UAT Testing
  • Migration day execution and communications
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