Quinnox Helped a Global Asset Management Firm Consolidate their Derivatives Operations to Calypso


About the Client:

The client, a prominent global asset management firm, embarked on the consolidation of its derivatives operations encompassing diverse asset classes like Credit Derivatives, Interest Rate Derivatives, Equity and Equity Derivatives, and FX Derivatives trades onto the Calypso platform. This initiative entailed comprehensive customizations to cater to specific business requirements, including expanded OTC coverage, evaluation of OIS Swaps, scalability enhancements for the platform, and more. 

Customer Needs:

Our customer wanted to implement Calypso Back-Office operations as a web-based system on the lines of the legacy Back Office system and test every custom build release. They also wanted to develop a feature to communicate the derivatives trade positions, inclusive of new trades as well as lifecycle events on a real-time basis to the service provider and reconcile trade positions with the service provider positions. 

The Quinnox Approach and Solution:

Quinnox consolidated and integrated all Back-Office operations and Derivatives operations into a single Calypso trading platform. We defined a structured and straight forward approach for data migration to Calypso and testing, in a very dynamic environment. Our solution and support helped the client: 

  • Develop customized functionality code for compatibility with new API’s in Calypso v12 for deployment. 
  • Develop custom interface for integrating Calypso platform with third party tools and ensure smooth integration with downstream systems, while automating batches. 
  • Migrate applications from Solaris to Linux which improved load performance, and provide utilities for verifying. 
  • Develop an automated QA Regression Framework using QTP and Quality Centre. 
  • Utilize Qframe, Quinnox’s automated reporting tool to present the technical defects reported in business in a user-friendly format. 
  • Develop an FpML 5.3 adapter for the clients trading platform to send out FpML 5.3 messages, Perform End of Day reconciliation to tie out positions, and offer EOD reporting mechanism to provide message status. 
  • Connect all systems via WSO2 ESB. 

Business Benefits: 

Quinnox designed derivatives operation that is streamlined from front to back using Calypso’s integrated solution ensuring ease of use for business users. The other benefits included: 

  • Successfully migrated 40+ products over a period of 24 months, saving time and cost. 
  • Zero defects recorded in go-live due to robust testing methodology. 
  • Reduced build testing cycle from 48 hours to 6 hours in 1 year. 
  • Reduced the development time with reusable automated test cases to successfully complete upgrade in 6 months, including development for all service pack release (from SP3 to SP6). 

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