Financial Crisis Technology Platform Implementation

A firm directly involved in increasing liquidity in the Asset-Backed Securities markets during the 2008 financial crisis needed an alternative to the initially implemented solution used to facilitate ABS loan bid entry. The firm needed consulting expertise to determine needs and implement an improved solution.

Approach

Markets Technology & Compliance was engaged to evaluate alternatives and manage the implementation of a replacement solution. Our project efforts included:

• Capturing an understanding of solution needs, issues, and technical challenges

• Identifying potential solution options which could be implemented rapidly

• Objectively evaluating and recommending solution options

• Managing projects to build a new Bloomberg-based bidding platform, and improve solution security

MTC also assisted in designing elements of the new application.

Results

The solution was defined and implemented over a six-week period, at very low cost and without interrupting established weekly processes, despite solution scope expanding midstream to handle CMBS products midstream.