ZKB completed OTC Complex project with support from ON-POINT
On 16 May 2016, ON-POINT successfully completed its OTC Complex project for Zürcher Kantonalbank
The project aimed to implement a wholesale Straight Through Processing (STP) solution for Zürcher Kantonalbank’s OTC derivatives business based on the Avaloq OTC Complex module family.
As one of the key players in the Swiss OTC derivatives market, Zürcher Kantonalbank offers its clients a broad spectrum of products ranging from plain vanilla to highly sophisticated derivatives.
Due to the high volumes and complex product lifecycles, it was crucial to ensure that all processes were 100% STP. Manual intervention had to be reduced to a minimum, although still possible if required. Furthermore, the solution needed to be flexible enough to handle new products in the fast-changing derivatives market without requiring additional implementation effort, particularly in the structured products space.
A smooth integration into Zürcher Kantonalbank’s complex system landscape was a prerequisite. This was achieved with Avaloq, which acts as a derivatives processing system between the trading system frontend and Zürcher Kantonalbank’s accounting and reporting backbone.
“ON-POINT offered OTC expertise and demonstrated considerable skill in implementing the Avaloq OTC module. We helped Zürcher Kantonalbank understand how the module family works, contributed to the specification, and designed and implemented major parts of the solution. Our contribution was a critical factor in the project’s success and timely delivery,” says Christian Reichel, Managing Partner of ON-POINT and a key player in the OTC Complex project.
ON-POINT’s contribution to the OTC Complex project marks a significant milestone as Zürcher Kantonalbank is one of the key players in the Swiss derivatives market.
ON-POINT is committed to becoming a market leader in its business segment and the partner of choice for major financial institutions looking to transform their business.”