Five major technology innovations at leading financial services organizations have been awarded Windows in Financial Services 2007 Innovator Awards. Each innovation made use of Microsoft technology to solve practical business problems, from maximizing productivity to streamlining operations, in today’s highly charged and competitive capital markets industry.
The five winners are:
• A Reg. NMS compliant pricing database developed by Citi Electronic Execution/Lava Trading to provide customers with a solution for managing bid and offer price quotes from US exchanges and electronic communication networks. Developed with SQL Server 2005 technology, Citi/Lava launched a 70-terabyte capacity platform dubbed, Tick Database, that ensures its financial services customers achieve best execution by providing close to real-time access to pricing quotes in the US equities markets. In addition, the Lava Trading Tick Database will store massive volumes of quotes to enable its customers to show compliance with Reg. NMS, which requires firms to execute a trade against the best bid or offer in the National Market System.
• A fixed income sales and analytics application designed by Lehman Brothers to provide the firm’s Fixed Income Technology and Analytics Group a solution for offering customers transparency and critical analyses for the often-opaque fixed income market. Developed using SQL Server Analysis Services (SSAS 2005), Lehman Brothers Fixed Income application allows institutional customers to receive rapid analysis on mortgage loans securitized by Lehman Brothers and all other non-agency market participants. The application, which is on a 64-bit platform, is the first 64-bit implementation at Lehman Brothers and stores close to 1 billion records. It generates origination trend and monthly performance analysis, including prepayment, delinquency, default and severity with over 30 dimensions and 80 measures.
• Linedata’s LongView Live application, the new version of its global, multi-asset class order management system developed to support the needs of portfolio managers, traders, compliance officers and operations personnel. The comprehensive system provides portfolio modeling, electronic trading, pre-trade compliance and unparalleled access to liquidity. LongView Live uses Microsoft’s Windows Presentation Foundation (WPF) technology as the foundation for the platform, creating a graphics-intensive, highly intuitive user interface that eliminates the need for traders to switch between different windows, monitors, and systems and ultimately, increase institutional profitability.
• A suite of wireless applications for the financial industry developed by Pyxis Mobile to provide financial services institutions a solution for pooling institutional information to deliver a converged view of business information that drives productivity, reduces trade errors, and raises assets under management for Pyxis customers. Designed using .NET, Pyxis enables financial services institutions to connect data from across the enterprise into a single, easy-to-use application. Employing customizable technology, the Pyxis mobile product suite provides customers with full access to the applications they need to make critical business decisions, including the order management system, portfolio management system, compliance systems, and news, statistics and analytics tailored to institutional business needs.
• A high-performance computing cluster developed by UniCredit Markets & Investment Banking provides pricing, risk analysis and internal data processing for the institution’s structured derivatives business. Built by employing .NET technology, UniCredit’s 64-bit, Windows-based platform enabled the firm to maximize technology development firm-wide by integrating and streamlining the firm’s computing infrastructure across all of its financial instruments, including equity, credit, interest rates and foreign exchange, to one standardized format. The high-performance cluster also allowed the firm to support both front-office and back-office operations in a less complex and more highly integrated environment.
“It is exciting to see such highly regarded institutions in the capital markets’ industry develop critical solutions based on the Microsoft technology platform to address both their clients’ and their operational needs,” said Craig Saint-Amour, director, Capital Markets Solutions, Microsoft’s U.S. Financial Services Group. “By empowering developers to use Microsoft’s solutions, they are able to create innovative applications and platforms that better serve the industry.”