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The FST Awards 2011 Shortlist

Best use of IT in wholesale & investment banking


This award will highlight the most effective use of IT in improving business processes within wholesale banks, trading houses, fund managers, investment banks and other similar companies. Nominations may be for a single project or an overall strategy. The winning entry will demonstrate to the judges how the strategic use of technology has brought their company cost benefits, improved internal processes, or enhanced external service to clients (where applicable), in order to further that organisation’s opportunities of future business success.

Bank-Leumi le-Israel B.M. - "Leumi Trade"

"Leumi Trade" Capital Market Trading & Investment Website is an innovative & unique Trading System, which includes a wide breadth of offered Investment products in Israel, USA and Europe. The Website is easily accessible to a wide range of clients, and is based on cutting edge technology.

Credit Suisse - ‘SPARTA’

Product Control IT – part of CFO IT – developed and implemented a new strategic application ‘SPARTA’ for Product Control users. SPARTA (Strategic Price and Risk Testing Application) is a key component of the Finance Systems Initiative (FSI) architecture which is transforming Finance through a five-year programme of intensive investment. The IPV programme started developing SPARTA in 2009 and by the end of 2010 it was fully rolled out to all Equity Derivatives users and selected users within Emerging Markets, Global Arbitrage Trading and Prime Services globally.

Deutsche Bank – Enterprise Architecture group

In 2009, the Enterprise Architecture group in Deutsche Bank Capital Markets IT was re-established from scratch. It has grown into a leadership position, driving the critical technology platform and cultural changes required for IT. In 2010, it had enormous impact on the direction, culture and capability of the organisation.


HSBC- RAVEN

The HSBC Risk and Valuation Engine (RAVEN) will consolidate multiple Credit Risk Engines across 36 countries over a 9 month period. RAVEN will replace 10 year old legacy mid-frame systems with a centralised single-instance / multi-site system, providing process consistency, reduced application footprint, extensive cost benefits and enabling future growth

JP Morgan Chase - Application BackBone

Application BackBone (ABB) is the JPMC cloud computing platform. Unlike Platform-as-a-Service offerings such as Google App Engine, ABB is designed to fully support enterprise Java web applications. Since going live in July, ABB has shortened application delivery time to minutes, improved IT agility to provide computing resources on-demand, and saved the firm man-months in direct and opportunity costs.


J.P. Morgan – Finance Reconciliation Engine (FiRE)

J.P. Morgan recognized the challenges and limitations of trade vs. ledger reconciliations, needing to design a new system with shorter batch processing, improved performance and resiliency. J.P.Morgan partnered with Cognizant to design and implement an innovative Informatica based reconciliation platform, which exceeded industry performance benchmarks and delivered significant cost savings.

Lloyds Banking Group – Wholesale Markets and Treasury and Trading (WMTT) project

Lloyds Banking Group’s Wholesale Markets and Treasury & Trading business overcame the challenge of integrating distributed modular storage environments from two of the UK’s largest banks. Following a merger, it created a centralised, virtualised strategic environment to manage over 1PB of data and met business requirements to support sustainable growth.


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