Case Study: JMP Securities LLC

When JMP Securities LLC decided to deploy a new trading platform and connect it to their clearing house without a known model or template, they turned to Vaco to make it happen.

Client:

JMP Securities, LLC

Services:

Consulting, Managed Services

Industry:

Finance, Banking

New Trading Platform

JMP Securities LLC was using NYFIX as their trading platform. However, they wanted to deploy a new platform, Fidessa. As part of the deployment, it was required that Fidessa be connected to JMP’s clearing house, Ridge Clearing. Because this was the first time Fidessa would be connected to Ridge Clearing, there were no templates or models architecture to follow as blueprints. The strategy for deployment had to include trade compression to reduce the costs of clearing and update the trade reconciliation process to work with Ridge Clearing’s platform.

Solutions & Results

  • Fidessa transmitted the clearing trade file to Ridge Clearing via FTP on a daily basis, the reconciliation process was streamlined with new recon tools.
  • Trade allocations to customer accounts were streamlined.
  • JMP was able to scale the volume of daily trades.
  • Per trade cost for clearing reduced because JMP was able to take advantage of the trade compression in the file transmitted.
  • Trade recon was conducted quickly and with ease.

Success Statistics

Vaco helped our client successfully transform into a leading agile development environment quickly and increased their productivity.

0 mo
Turn Around Time
0 x
Productivity Increase

Client Testimonial

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