Phy-gital Roundtable: Breakfast Roundup from Germany and Netherlands

02 May '15 | Debjyoti Paul

German Shoppers: Meet Them in the Fast Lane to Phy-gital

15 January '15 | Ralf Reich

Shoppers Will Share Personal Information (But They Don’t Want to be “Friends”)

15 January '15 | Anil Venkat

Modernize or Perish: Property and Casualty Insurers and IT Solutions

14 January '15 | Manesh Rajendran

Benelux Reaches the Phy-gital Tipping Point: Omnichannel Readiness is Crucial

13 January '15 | Anil Gandharve

The New Omnichannel Dynamic: Finding Core Principles Across Industries

13 January '15 | Debjyoti Paul

Technology does not disrupt business – CIO day 2014 Roundup

02 December '14 | Anshuman Singh

Apple Pay – The Best Is Yet To Come

02 December '14 | Indy Sawhney

Digital transformation is a business transformation enabled by technology

01 December '14 | Amit Varma

3 Stages of FATCA Testing and Quality Assurance

06 October '14 | Raman Suprajarama

3 Reasons why Apple Pay could dominate the payments space

18 September '14 | Gaurav Johri

Beacon of Hope: Serving Growth and Customer Satisfaction

05 August '14 | Debjyoti Paul

The Dos and Don’ts of Emerging Technologies Like iBeacon

30 July '14 | Debjyoti Paul

What You Sold Us On – eCommerce Award Finalist Selections

17 July '14 | Anshuman Singh

3 Steps to Getting Started with Microsoft Azure Cloud Services

04 June '14 | Koushik Ramani

8 Steps to Building a Successful Self Service Portal

03 June '14 | Giridhar LV

Innovation outsourced – a myth or a mirage or a truth staring at us?

13 January '14 | Ramesh Hosahalli

What does a mobile user want?

03 January '14 | Gopikrishna Aravindan

Modernizing Trading Systems – Part 2 – Data Migration, System Integration and Quality Assurance

Posted on: 02 November '16

In the previous blog, we discussed benchmarking existing systems and selection of trading system package for a successful migration. In this blog, I’ll cover data migration, system integration and quality assurance.

Step 3 – Data migration

The most important and difficult activity during a trade system modernization is the migration of data from existing system to new system. The four main types of data to be migrated include trade data, static data, cash flow data and data describing the detailed operations/ actions/ events that were applied on the trade itself. All this data has to be carefully extracted from the existing system, enriched and transformed to match the data structure of the new system, and then loaded into the new system.

The above piece of work is highly complex in nature. A good way to achieve efficiencies in data migration is by using battle-tested and proven ETL programs/procedures/migration utilities which are written exclusively for the migration sequence in a project. Certain system implementation partners like Mindtree have proprietary accelerators that de-risk and simplify the data migration. These system implementers usually support the organization all through the implementation of the new trading platform, along with active inputs from the software vendor’s expert team.

Data migration can be classified as simple or complex depending on the amount of supplementary development required in addition to data porting.

Step 4 – Integration of core and peripheral systems

Some organizations might require a large number of batch reports and real-time interfaces to be developed as part of the trade migration project. Further, there could be additional data related to user rights and access provisioning, real-time interfaces connectivity to upstream/ downstream systems, end-user UI customization and batch reports, which also have to be migrated.

The role of an experienced system integrator (SI) in development and delivery will prove invaluable. An experience SI usually brings to the table a trusted suite of tools, utilities, accelerators, frameworks and best practices that de-risk migration by targeting specific streams (say reports and interfaces), thereby reducing delivery time and costs by about 20%-30%.

As an example, the SI might make use of a report migration tool to rapidly design and build a working report in the project, taking inputs automatically from the existing report definition. This significantly reduces the time to build, iterate and go live.

Thus, an experienced SI will help organizations meet their goals and objectives, on time and within budgets.

Step 5 – Quality assurance

All the pieces newly developed for modernization has to be thoroughly tested and integrated to the system delivered by the software vendor. A healthy approach to testing the trading systems is to use a scalable and modular test platform, deployed on premises or on cloud. Organizations should have a clearly defined test strategy which includes functional testing, performance testing, test automation and framework, user acceptance testing and interface testing. They should also leverage specific tools and accelerators to de-risk, reduce timelines and increase quality of the build. Some examples of the tools include:

  • Test automation tool – End-to-end test tool which validates multiple scenarios and test cases to provide rich information to the project on the overall quality of the build and test coverage (data generation etc.)
  • Reconciliation tool – A tool to reconcile data/report outputs from two specific systems with similar characteristics. This activity is time consuming and cumbersome and would greatly help in detecting any regression issues in the system.

In the next part of this blog series, we will look at real world examples of successful trade system migrations.