AFTAs 2022: Best agile initiative (vendor)—Genesis Global

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.

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.

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.