Strategic partnership between riskart and IB Boost facilitates integration of riskart software with clients' environment
riskart, has formed a strategic partnership with IB Boost, to focus on providing innovative and cost-effective integration solutions across the front, middle and back offices.
- (1888PressRelease) February 24, 2011 - Milan, Italy - riskart, a leading derivatives consultancy based in Italy, has formed a strategic partnership with IB Boost, a leading technology and system integration consultancy, based in the City of London, to focus on providing innovative and cost-effective integration solutions across the front, middle and back offices.
The partnership will allow riskart to offer its clients a standard integration framework toolkit, based on proven service-oriented architecture, which removes much of the traditional difficulties in integrating systems dealing in OTC derivatives.
The framework automatically manages the normalization of data, guaranteeing compatibility with a wide variety of message types such as MQ Series, FpML, XML, JMS etc., and goes beyond typical data mapping to manage the lifecycle of each OTC derivative trade, enriching, aggregating and splitting trades on the basis of user-defined rules, identifying possible messages with missing data, queuing errors and passing from front to middle/back office only those trades which have been effectively completed.
This cost-effective and flexible solution to the challenges of system integration in the OTC derivatives area ensures that the whole process is much simplified, there is a much faster time-to-market on project delivery, and clients' investments in system integration in the OTC derivatives space are preserved over time and can keep pace with the ever-evolving nature of the OTC markets and the complex and unique nature of many instruments.
"riskart is always trying to stay a step ahead and partnering with IB-boost enables us to make a significant difference for our clients by simplifying the whole process of front to back office integration. OTC derivatives reform is upon us and is going to place a significant strain on clients' IT budgets," explained Franco Marinotti, riskart's CEO. "Applying innovative technological solutions to the delicate area of system integration will allow clients to be better equipped to face up to the new requirements brought on by the reform, will increase efficiency in the still labour-intensive back office area and can have a direct impact on clients' bottom line."
Philippe Rioland, Managing Director at IB Boost, added, "We are really looking forward to working closely with riskart and their innovative Derivatives Management software. Our considerable experience in the field of system integration has taught us that the real value of integration lies in allowing clients to be confident in choosing their front, middle and back office solutions on the basis of merit, without having to be conditioned by technological and integration concerns. This is particularly true in the field of OTC derivatives. Our partnership with riskart means that customers can now cherry pick a best of breed solution that leaves riskart to manage the vital middle/back office part of their derivatives operation and at the same time removes the traditional headache of trying to integrate traders' favourite front-office trading and position-keeping applications."
About riskart S.p.A.
Based in Milan, riskart S.p.A. provides state of the art, bespoke software and consultancy to manage financial contracts for banks, investment companies, asset management firms and the finance departments of large companies and local authorities. Further details can be found on the website at http://www.riskart.com.
For further information, please contact riskart SpA, 25 Via Montebello, 20121 Milan, Italy. Tel: +39 02 455 063 93. Email: request_info ( @ ) riskart dot com
About IB Boost
Based in London, IB Boost provides consulting services for industry leading trading platforms making them more flexible and cost efficient. Further details can be found at http://www.IBBoost.com.
For press information and illustrations, please contact Nigel Robson, Vortex PR, Island House, Forest Road, Forest, Guernsey, GY8 0AB, UK. Tel: +44 1481 233080. Email: press ( @ ) riskart dot com
riskart is a registered trademark of riskart SpA
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