A major hedge fund in NYC hired Iridium to build multiple interfaces between Murex™ and their hedge fund administrators, prime brokers and clearers.

The main complexity was the diversity of asset classes, trade events and output formats. The client uses Murex™ to trade all asset classes including Rates, FX, Equity, Credit and Commodity. Trade events include insertion, modification, deletion, validation, early termination, novation, assignment, expiry, exercise and unwinds. The output formats include proprietary XML, CSV and human readable HTML files.

Iridium handled all aspects of this project including requirement gathering, liaison with third parties, development of a generic interfacing software, customization of the interfacing software according to the specifications, testing and go live.

Iridium assigned 1 Java developer (3 months), 1 XML/XSL developer (9 months) and 1 business analyst (9 months).

Key success factors: Understanding of MxML messages & stress testing of the interfacing software.

Interfaces