Definition, Build vs. Buy Assessment, RFP Management

A firm recognized as a primary driver of fixed income markets needed to replace an auction platform used to capture and allocate private bids on government securities and related lending transactions. The prior platform was costly to operate, becoming unreliable, and lacked flexibility to adapt to rapidly changing markets.

Before selecting a replacement solution and approach, the firm needed consulting expertise to determine needs, identify and assess alternatives, recommend solution options.

Approach

A Markets Technology & Compliance consultant led an assessment team to perform a focused assessment of current state and possible solution options. During the assessment effort, the team:

• Captured an understanding of current state requirements, issues, and technical challenges

• Interviewed executive staff to identify potential new solution requirements and technical needs,

• including extremely high availability and security requirements

• Produced an in depth Requirements and Technical Solution Assessment

• Identified potential options, including vendor provide platforms, outsourced solutions, and custom-developed applications

• Interviewed solution providers, prepared a Request for Information (“RFI”) and evaluated responses

• Estimated solution costs and delivery timelines, and facilitated informed decision-making on build v. buy approach

• Prepared a Request for Proposal (“RFP”), interviewed responding vendors

• Assisted vendor selection efforts

MTC also assisted in various aspects of vendor negotiation.

Results

The effort was widely regarded as a model process for evaluating options making informed decisions on large-scale information technology initiatives. The auction solution was implemented on schedule and continues to operate an instrumental process influencing fixed income markets rates.