Challenge

Formicary, now part of Accenture, provided an initial assessment of Bluecrest Capital’s Calypso trading platform, and found upgrades to improve speed and efficiency.

BlueCrest Capital decided to upgrade its trading technology with a health check on its Calypso trading platform and third party trade feed.

Strategy and solution

The consultancy scope included high level reviews of the Calypso engines and servers, Java Virtual Machine configuration, Oracle database, Calypso hotfixes, custom code and interfaces with external systems.

The review was conducted over a two-week period with an on-site team of senior Calypso system engineers and business analysts who developed and put in place an integrated system that upgraded the existing trade feed and added value to Bluecrest’s Calypso platform.

As well as integrating and distributing trades booked in the front office between disparate systems, the solution brings new levels of speed and precision to BlueCrest in the process.

"We were impressed with Formicary’s honest and pragmatic approach. The company offers the right mix of business consultancy services and technical expertise and we were confident that Formicary could execute the health check successfully."

— DONAL FLEMING, Chief Technology Officer – BlueCrest Capital Management (UK) LLP

Transformation

The high performance tradefeed solution enhanced trade throughput at BlueCrest by up to 800 percent. The scalability of the system also allowed BlueCrest to subsequently upgrade its Calypso platform to version 13 with minimal impact on the business.

This enables BlueCrest to capitalize and manage the complexities of the new OTC derivatives marketplace and address new front office, operating and connectivity issues while managing margin compressions and capital costs across business lines.

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