Using ActivePivot’s object-based, in-memory, real-time aggregation OLAP engine, WestLB are now able to provide the flexibility to integrate the trader’s requirements in terms of both business logic and the ability to slice and dice the data any way they want to see it, Quartet said.
WestLB were also able to put in place a SOA tool that has a cost structure compatible with their ROI requirements which enabled them to provide the same level of functionality that they had with a other FX trading system.
According to Quartet, with ActivePivot, WestLB can now get some of the benefits that include rationalization of systems; provide user experience they were seeking to deliver the real-time requirements to the business users; have control over the system due to ActivePivot’s pluggable architecture.
In addition, it helps the bank to with SOA due to ActivePivot’s use of open standards such as MDX, XMLA, Web Services, etc., and supply the traders with the ability to view the data directly in Microsoft Excel with either a template view (pre-built standard views) or create their own views/reports/blotters with drill-down and drill-through capabilities.
Gerd Borker, head of IT capital markets at WestLB, said: “We were moving our FX/MM business from one vendor system onto another one. However, we found gaps in the functionality of the target system. In order to fill these gaps we looked to Quartet’s ActivePivot. With their true real-time OLAP technology and their integration features we were able to fulfill these missing requirements and now we have satisfied users and a lower total cost of ownership”.
Xavier Bellouard, a founder and UK managing director of Quartet, said: “The work we did with WestLB on this project provides a further step to strengthening ActivePivot’s market presence as a product that combines both OLAP’s deep analysis functionality with the benefits of CEP’s real-time decision-making capabilities.”
