About a-team Marketing Services
The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Bank of Ireland Treasury Goes Live with PaceMetrics STP Kit

Subscribe to our newsletter

Bank of Ireland Treasury & International Banking Dublin has gone live with PaceMetrics’ PaceMaker and PaceManager products, as part of a broad straight-through-processing initiative. The PaceMetrics systems will help provide the bank with transaction data that can be used to increase operational efficiency and to manage operational risk.

The rollout of the live product follows hot on the heels of a pilot installation in January to prove the concept. Lorcan Connolly, IT director at the bank, says that the pilot project “provided a critical real-time lifecycle view of our overall trade-processing operations” with minimal impact on existing systems. “They provide our operations staff with the ability to monitor and manage exception trades early and effectively,” he says.

PaceMaker monitors the flow of a trade through its lifecycle, enabling staff to identify overdue events and avert errors. The Transaction Flow Monitor provides a monitor for end-to-end transaction management, while a module called the Operational Event Store (OES) records every event for every activity in the lifecycle of all transactions. This data is available for modelling operational risk exposure in processes and systems and can be linked to other databases within the organisation to enrich the data.

Head of operational risk at the bank, Michael Geraghty, has already felt the positive impact of PaceMetrics on operational risk management. He can see considerable scope for use in this area in other divisions of the bank.

“Not only do we get a view in real time of the entire processing across multiple systems, but we also gain a clean record of all events stored in the Operational Event Store,” he says. “The OES warehouses the entire history of all trades, including their events and states, enabling the business to proactively manage and report on operational risk.”

PaceManager provides the exception-processing mechanism and the link to reference data sources. Another module – the Business Process Executive (BPE) – proactively manages each trade through to settlement using workflow-like mechanisms to coordinate the components involved in the settlement of each trade. Interfacing to the enrichment component with the correct standing data from the reference data service, it ensures that each component has sufficient and correct static data to perform its task.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Data standards and global identifiers update

Date: 21 June 2022 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Data standards and global identifiers are the international language of capital markets – but how widely have they been adopted, how useful are they in practice, and can they stand the test of sustaining stable markets? This webinar will...

BLOG

SimCorp Partners Domos FS to Offer Cross Asset Investment Management for Public and Private Markets

SimCorp has partnered with Domos FS, a provider of solutions for alternative assets fund management, to deliver front-to-back-office investment management covering both public and private markets for asset managers, asset owners and service providers. SimCorp has also taken an initial minority stake in Domos FS. The partnership has been made in response to increased use...

EVENT

Virtual Briefing: ESG Data Management – A Strategic Imperative (Redirected)

This briefing will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

Entity Data Management Handbook – Third Edition

Welcome to the third edition of the Entity Data Management Handbook which is available for free download. In this updated edition we delve into the role entity data plays in the smooth running of financial institutions and capital markets, the challenges of attaining high quality data, and various aspects, approaches and technologies involved in managing...