Rolfe & Nolan has released the first module of its next-generation Merlin system to sponsoring banks for user acceptance testing.
The new module provides a flexible framework for managing and modifying commissions payments. It features published inbound and outbound interfaces, which enables its calculation engine to be readily used by other systems.
The Merlin project marks a significant effort by the company to haul its ageing back office futures and options core processing system into the Internet age.
Mark Sykes, chief development officer, global exchange services at Merlin sponsor Deutsche Bank, comments: "Merlin is a large and challenging product that has involved significant sponsor input from the word go. The sponsors and Rolfe & Nolan are pleased to have reached this point - the first deliverable of the project."
Rolfe & Nolan's Merlin project director Phil Reed says that user acceptance testing marks a significant step to making the project live. "The accomplishment of the release into UAT by the sponsors underlines the detailed work that has taken place. It also emphasises our joint commitment to making it happen."