Deutsche Bank has completed user acceptance testing of the first module of Merlin, the next generation processing system from back office futures and options vendor Rolfe & Nolan.
The Merlin Commissions module provides a flexible framework in which combinations of commission methods and associated rates are applied to each calculation request. It also has published inbound and outbound interfaces, which enables its calculation engine to be readily used by other systems.
Paul Cleaver, chief information officer, global exchange services at Deutsche Bank says the bank has formally accepted the module and plans to go live with it soon.
The next deliverable from the Merlin project is a new margin module, which has an expected completion date of second quarter 2003
Ultimately, Rolfe & Nolan aims to develop a component-based package in which individual Merlin modules may be integrated to form a complete system or interfaced with other third party components.