Unisys wins FDIC outsourcing business; allies with eSpeed for programme trading

Unisys wins FDIC outsourcing business; allies with eSpeed for programme trading

Unisys has been awarded a seven-year, $28 million contract to take over the processing of Call Report bank data processing at the Federal Deposit Insurance Corporation in the US.

The bank data, collated on behalf of the Federal Financial Institution Examination Council (FFIEC) agencies, are used in a wide range of regulatory, supervisory and analytical functions, including the design and conduct of banking policy and industry risk assessment.

Streamlining the Call Report process should help the agencies to reduce paperwork and lower the cost of doing business, says Unisys. Key to the new process is the implementation of a central data repository (CDR) to collect and process the bank data as well as serve as a single information resource.

The proposed solution will be implemented in a Web services architecture using the Microsoft .NET framework and the XBRL reporting language. Under the contract, Unisys will provide a range of services covering development, hosting, help desk and application maintenance.

The FDIC has options on additional technical requirements and three one-year contract extensions that could raise the value of the contract to approximately $39 million.

Separately, Unisys has partnered with fixed income network eSpeed on the promotion of a real-time, automated Excel-based tool for modelling and executing proprietary trading strategies. The joint solution combines eSpeed's trading tool, AutoSpeed, with Unisys fixed income analytics program, @nalyst, developed by its TechHackers subsidiary.

Dubbed AutoSpeed @nalyst, the product lets traders analyse and execute fixed income transactions over eSpeed directly from Microsoft Excel spreadsheets.

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