Large European investment bank.
The client needed to comprehensively integrate its new trading system for global repo markets, which provide multi-trillion-dollar volumes of debt financing daily.
The bank’s chosen repo management solution was fully and seamlessly implemented, tested, customized, and permissioned in its entities around the world.
Upgrading a key piece of financial market plumbing
Repurchase (or ‘repo’) markets are a long-established cornerstone of the global financial system. They provide financial institutions with access to cheap short-term debt funding by borrowing against sovereign bonds and other investment-grade fixed-income assets, while allowing their counterparties to earn interest on otherwise unproductive cash by extending low-risk secured overnight loans. However, it is often dated legacy systems that underpin and facilitate repo funding transactions.
Full implementation throughout global operations
Recognizing this, a large European investment bank partnered with Lab49 to support the transformation of its global secured funding capability. We embarked on a comprehensive program to integrate a best-in-class repo trading solution into the bank’s global entities, including by customizing systems and executing comprehensive testing.
A front-to-back integration
Following close collaboration and coordination between Lab49 and the bank, its partners and the technology provider, the integration program ensured that the new trading solution met the bank’s need for a global capability and effectively operated alongside existing systems.
We provide the wide array of services required to fully integrate new systems post-implementation.
Leaner technology estates represent the new gold standard in the face of banks’ unwieldy legacy systems.