Bank of America to build global FX datawarehouse

Bank of America to build global FX datawarehouse

Bank of America has licensed the Sierra System from FNX for its global foreign exchange (FX) sales and trading operation.

The bank is to use the system to integrate its worldwide foreign exchange trading into a single real-time data warehouse supporting on-line trading, FX sales, profitability analysis and portfolio management. The contract also specificies the implementation of real-time limits monitoring functionality.

During the evaluation, the Sierra System was subjected to rigorous benchmarking, included testing to meet a minimum volume of 10,000 transactions per hour across a global real time network with at least 300 trading stations online.

David Boldon, senior managing director of sales and marketing for FNX, gives credit to hardware supplier Sun: "Sun Microsystems, as FNX's partner, provided outstanding support in the hardware configuration of the project, and was crucial in the success of the benchmark testing."

Under the agreement with the bank, Sierra System will be the global information infrastructure and central repository of all trading, credit, limit and transaction processing information related to foreign exchange. The data warehouse will be used to deliver on-line trading support for BofA's treasury and tactical risk management needs.

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