Fortune 500 agricultural firm meets regulatory deadlines with ease
Case study
Snapshot
- A Fortune 500 agriculture trading firm faced limited time and staff to meet regulatory requirements.
- The client needed to centralize trade data from multiple sources, apply rules, and convert it into a standard reporting format.
- BroadPeak supported the client in managing the entire workflow, from data collection to real-time submission to Swap Data Repositories.
The client avoided an estimated $655,000 in development costs and saved the equivalent of 1.5 full-time employees in ongoing maintenance.
Background
A Fortune 500 agriculture trading firm faced strict regulations, including a 15-minute reporting deadline and rigorous record-keeping. To comply, the firm needed to centralize trade data from multiple sources, apply complex rules, and convert it into a standardized format for regulatory submission.
The Challenge
Each transaction had to be processed according to a defined set of rules and converted into a standard reporting format, regardless of its source system. The client understood the requirements but implementing them was challenging due to technical staff and time constraints. While bespoke solutions could have been delivered by numerous consultancies, the client sought a low-maintenance platform that could be operated by teams familiar with trade data and regulations, reducing the need for ongoing technical staff involvement.
The Solution
The client selected BroadPeak for its ability to manage the entire workflow while allowing the company to self-implement with guidance from BroadPeak. A team of 1 developer, 1 business analyst, 1 part-time regulatory advisor, 1 part-time project manager, and a BroadPeak analyst managed the project. BroadPeak handled the workflow from gathering raw internal trades, applying regulatory rules, submitting them to repositories in real time, and returning success and error responses for each message. This fulfilled both operational and compliance record-keeping requirements.
By driving the initiative internally, the firm ensured its staff could manage the process post go-live while keeping costs down. Using standard, off-the-shelf software minimized project risk and provided assurance of ongoing support and future feature updates.
The Results
With fewer staff and lower costs than comparable projects, the firm successfully built out its trade reporting capabilities. It is estimated that the firm avoided $655,000 in development costs and the equivalent of 1.5 full-time employees for ongoing maintenance of the integration.
BroadPeak allowed the firm to meet regulatory deadlines with limited resources and enabled analysts to efficiently manage the tight 15-minute reporting obligations.