AFTAs 2022: Best agile initiative (vendor)—Genesis Global
Project: Replatforming Neptune Networks
Overview
Genesis replatformed and upgraded the Neptune Networks service, which provides pre-trade bond data from the sell side to the buy side. Neptune data feeds are standardized, real-time and direct from sell-side risk systems, rather than using periodic runs or manual spreadsheets. More than 30 dealers and 80 buy-side firms are on the Neptune platform.
What problem does it solve?
Neptune launched in 2016. By 2021, it needed a more agile, scalable system that could facilitate a rapid release schedule (up to every two weeks) and keep pace with its product roadmap. The agile delivery from Genesis featured daily stand-ups and alternate day backlog refinement sessions. Regular Genesis–Neptune design discussions uncovered efficient solutions, reducing hurdles for developers. With its low-code platform, Genesis replicated existing functionality and added new capabilities to Neptune in six months.
“Start to finish in six months for a platform and community this size is one of the fastest builds I have been involved with. With Genesis, we can be more responsive to client demands. It’s cheaper to run, it is more componentized, and we can adapt our business more easily.”
Gavin Collins, CTO, Neptune Networks
Measurables
- The new Neptune platform was built and deployed in six months.
- Single name CDS, emerging market bonds and market analysis, including axe skews, were included at launch.
- The system can process hundreds of thousands of Fix messages per second.
- The new GUI expands accessibility to firms that don’t want to integrate—integration options include order management systems (OMSs), execution management systems (EMSs), proprietary trading tools with a Fix API, and secure file transfer protocol (SFTP).
Future developments
- For any new feature, rather than amending traditional code, updating the Neptune platform simply requires adding modules or amending modules already in the low-code system from Genesis.
- Neptune has a two-week cycle to launch new features, driven by Genesis’ modular, low-code software design.
- Neptune’s roadmap includes adding products and asset classes, additional analytics and derived data products.
“Building the new Neptune service capitalizes on our fixed-income expertise and the transformative power of our low-code platform. Our low-code architecture makes it easy for services like Neptune to add features, datasets and analytics. With its new platform in place, Neptune has unmatched ability to bring innovation to its community and the market.”
Stephen Murphy, CEO, Genesis Global
Why they won
A quick glance at the project measurables of the Neptune Networks initiative shows why Genesis Global emerged top in this perennially competitive category. The capital markets industry is an unforgiving environment for all but the most disciplined, focused and well-managed technology projects, and the fact that Genesis Global managed the replatforming of the Neptune Networks service―not to mention the substantial performance enhancements it delivered as part of the overall project―all within a six-month window is truly impressive.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Sell-Side Technology Awards 2024 winner’s interview: Broadridge
In this year’s Sell-Side Technology Awards, Broadridge Financial Technology won Best outsourcing provider to the sell side thanks to its hugely successful business process outsourcing offering
Waters Rankings 2024: Best market risk solution provider (highly commended)—FactSet
Product/service: FactSet Multi Asset Class Risk Solutions
Waters Rankings 2024: Best portfolio management system provider (highly commended)—FactSet
Product/service: FactSet PM Hub
Waters Rankings 2024 winner’s interview: IPC Systems
IPC Systems won the Best cloud infrastructure provider category in this year’s Waters Rankings. Tim Carmody, CTO of IPC, discusses his firm’s recent success in the rankings
Waters Rankings 2024 winner’s interview: Vneuron
Vneuron Risk & Compliance won the best AML compliance solution provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner’s interview: Cloud9
Cloud9, part of Symphony, won Best trading floor communication system provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner’s interview: AI Risk
New York-based AI Risk won the Best cyber security provider category in this year’s Waters Rankings.
Waters Rankings 2024: Best performance measurement and attribution system provider—FactSet
Product/service: FactSet Performance Solutions