Australian Investment Bank: migrating Counterparty Credit Risk calculation engine to the cloud
Excelian’s team of Java developers and SME’s with knowledge of Markit Analytics, Microsoft HPC Server worked extensively with Australian IB on the original implementation of the Counterpart Credit Risk (CCR) project. Throughout the following two years since the initial project was completed, Australian IB increased the number of businesses serviced on the CCR platform, significantly increasing the amount of computation required to complete the daily batch processes.
The existing infrastructure underpinning the system was aging and soon to require replacement and cloud was seen as the strategic solution rather than large capex on new hardware.
An Excelian team came on board to create a fully automated and production-ready configuration, having previously completed a POC to prove key parts of the system could function in AWS. Excelian experts developed a design which allowed for proprietary code to stay on-premise and the vendor application, Markit Analytics, to go into the cloud.
• Increased capacity for running batch calculations in parallel, bringing forward the time in which risk managers get up-to-date results
• Flexibility to scale quickly to suit business demand and allow for one-off and irregular humps in calculation to be overcome easily
• Technology refresh of aging hardware, removing the requirement for large capital outlays
• Increased resilience against failure through moving to true active/active configuration for real-time