Global Asset Management (GAM), part of UBS Asset Management, has implemented technology from Heliograph as part of an initiative to update its messaging architecture and expand its use of the interbank Swift network.
Previously, the company had developed in-house Visual Basic applications, FTP scripts and had used an alternative middleware solution for its messaging architecture. However, this approach was deemed unable to accommodate changing business needs, especially the introduction of new Swift messages, or when it was necessary to update the Swift message library, says GAM.
Barry Nicholson, business systems programme manager, GAM, says a key deciding factor was the flexibility offered by HelioGraph's data field dictionary architecture. "The anticipated ease of development and implementation were other major factors in selecting HelioGraph," he says.
The solution implemented revolves around Helio Message Broker, HelioGraph's SwiftReady Gold accredited middleware solution, the fully maintained Helio Swift Library and some proprietary message libraries. The implementation included integrating a principal broker trade feed and the MT571 statement of holdings message for one of GAM's clients. The development was completed and ready for testing in 14 man-days.
Nicholson adds: "One of the most impressive advantages we now enjoy with HelioGraph is a rapid interface development tool that is accessible to a technical business analyst. We have the power to make changes to our architecture quickly and without the need to rely on external consultants."
In addition, GAM is intending to expand the messaging to include a wider range of Swift messaging for cash payments, custodian notifications, statement of holdings for all private clients, receive cash statements, and other activities that will build upon the existing architecture.