London, England - October 2006

GFI the global inter-dealer broker has gone live with YMAC, the cross-product reporting application from software vendor Yolus. Y-MAC is initially being used to provide a consolidated view of brokerage for management reporting. The implementation followed a successful pilot project at the end of 2005. Work to implement a first phase production system started at the end of February 2006 and was completed in just over four months. Plans are now underway to roll out the technology to GFI’s US and Asia Pacific operations.

Yolus consolidates and aggregates deal level information published by GFI’s trade capture and settlement systems. The first phase deliverable was focused on consolidating data from 5 different GFI systems and covered a variety of asset classes from cash bonds and equities to energy, credit and equity derivatives.

The system is being used for internal reporting purposes. It provides senior management with a consolidated view of the current day’s month-to-date and year-to-date brokerage volumes and allows current brokerage figures to be compared with historic brokerage returns.

Patrick Murphy, Head of Operations, Europe at GFI said, “GFI recognised that to support its growth and to consolidate its position as a leading inter-dealer broker, we needed to be able to monitor our business across multiple asset classes through a centralised reporting tool. This objective represented a major challenge in rationalising systems covering different financial instruments into a single reporting tool. GFI chose Yolus as a partner for this project, as it was a dynamic firm with a forward looking outlook and a best-of-breed solution that would fit with
GFI’s own business strategy and culture. The implementation team from Yolus has shown a professional and pragmatic approach in delivering the initial phase as planned and within budget. We are now looking forward to developing the business relationship further over the coming phases.”

Robert Devayya of Yolus commented, “GFI faced the same problem that many organisations face, in that their data is held in a number of dedicated front and back office systems. However, GFI recognised that with Y-MAC this did not present an obstacle to realising a consolidated view of client brokerage across all products and locations. The implementation has been a collaborative effort between Yolus and GFI and we are delighted to have GFI as a customer and look forward to working with them in future phases of the project.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development