International Fund Services

Web-Enabling of IFS Trade Data Reporting System

IFS is an international leader in providing trade support and fund administration services to investment managers active in complex and sophisticated markets. IFS supports global, multi-instrument and multi-currency trading activities across 45 equity markets, 30 bond markets, and the universe of exchange traded and over-the-counter futures, options and currencies. IFS systems work in seamless integration from the front-office through the middle-office to the back-office, which includes interfacing with prime brokers, custodians, clearers and banks. This technology is utilized to provide accurate and timely trade processing, real time positions and P&L, fund accounting and administration, and financial reporting.

Situation

IFS Trade Data Reporting System is a client-server application that provides the users with a variety of current and historical views of their portfolios to meet the most stringent demands of today's asset management groups. This system was built over several years using PowerBuilder 6.5 and Sybase Database. Changing clients’ requirements and business expansion created a need to provide web–based access to the Client Reports application. The web-based system was required to have its functionality expanded over the client-server one. Additionally, the system was to be built in a very short term upon users’ requests.

Solution

In 2002 IFS made the decision to convert the Client Reports application using XMLSP™ technology by CTI. The main reasons for selecting XMLSP were time and budget advantages over re-development, seamless integration with existing systems, ease of use by existing PowerBuilder programmers, and the prospect of preserving the look-and-feel of the original application thus eliminating the need to retrain the users.

Results

The system went into production within three months after the project started. The IFS development team, with guidance and support of CTI Implementation Group, successfully completed the project within budgetary and time constrains. The web-based system is running on WebLogic 6.0/UNIX platform with Sybase database. As a result of using CTI’s DW2Java Pro conversion tool and XMLSP technology, the system has the same rich user interface as the original client/server application while providing expanded functionality to the users. The users can see the reports on Web, sort and filter data, print it, and export data to Excel in several formats. The outside asset managers and the staff at IFS use IFS Trade Data Reports more efficiently to monitor their holdings, track trade information, and check settlements on daily and historical basis.  The company benefits from eliminating the need for distribution and deployment of the application on user machines and providing seamless web access to the application to over fifty users.