Bertrand Hongre, Head of Macro Trading at CDIB, remarked on the bankâs search for a solution to its diverse needs. âThe first and most immediate necessity for our new desk was an integrated multi-asset solution that could provide real-time front-office, middle-office, and risk management functions.â
Further guiding the bankâs vendor selection process, according to Hongre, were prerequisites like industry-leading functionality, fast deployment and implementation capabilities, scalability, and affordability. âAdmittedly, itâs very challenging to achieve those disparate objectives, but Imagineâs ASP-based Derivatives.com service emerged as the perfect solution for our needs.â
The proven cost efficiencies and economies of scale Derivatives.com delivers to users worldwide weighed heavily in CDIBâs selection, Hongre noted. âWe think an ASP-based solution is infinitely preferable to a traditional software implementation. Not only is Imagineâs Derivatives.com inherently easy to deploy, but because itâs a completely outsourced solution, the bank avoids incurring the customary internal IT and data management support requirements.â
Hongre further explained CDIBâs choice. âBecause we intend to spin the desk off into a standalone fund in years to come, a portable ASP-based solutionâoutsourced from CDIBâs internal infrastructureâis ideally suited for that purpose. Imagine could even become a future alternative to CDIBâs existing systems for its fixed-income, credit, and commodities businesses, and we look forward to expanding our usage.â
âThe selection of Imagine to help power CDIBâs trading desk operations is a great honor for us, and we look forward to supporting the bank as their business needs grow over time,â says Yvonne Dahl, Director of Sales and Marketing at Imagine.