San Francisco, Calif. — Exigen Group and Prebon Yamane today announced the completion of an Application Transformation project to reengineer an important order management system at Prebon, a premier broker for leading financial institutions around the globe. The custom solution, designed to support Prebon's specific set of application requirements, provides a centralized order and quotes management system that will run more efficiently, cut costs and add flexibility to sustain a variety of price distribution channels.
The new system significantly improves the efficiency of the company's global brokerage operations due to the elimination of paper processing, the need to switch between siloed legacy applications, and because business processes were constrained by the previous technology. With project completion and value delivered within less than three months, the system allows Prebon to move more quickly and cost effectively into new geographies and markets. The initial configuration addresses treasury cash, Peso and swap markets with additional markets to be added shortly.
"Exigen's experience in technology and the capital markets complemented our needs. We knew that we'd get a state-of-the-art technology system that also updated our business processes for real-time quote acquisition and distribution," stated Jim Hilton, head of business planning and product management at Prebon Yamane. "The new solution enables us to grow our business while keeping our processes efficient.
The new system offers Prebon growth potential and will operate under a cost model that supports the company's overall business objectives. The reengineered management system is modularly built with definable rules for each market (i.e. securities, foreign exchange, swaps, etc.) The application transformation both extended the existing functionality while delivering it on Java technologies that assure a lower cost of ownership for ongoing maintenance.
Dirk Manelski, general manager of Capital Markets at Exigen, stated, "Prebon is one of the largest inter-dealer brokerage house in the world and this relationship represents the type of clients with whom Exigen's Capital Markets group partners. Our technical and industry knowledge allow us to quickly perform application transformations on 5, 10, or even 25-year-old assets to upgrade these to lower cost of ownership.
With legacy systems such as these, technology is only part of the transformation – the entire operation and supported processes are usually where the most financial impact is achieved and with Exigen's expertise in operations and maintenance of mission critical systems and business process efficiencies, we are able to quickly yield real results for our clients."
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