Questions: 1. How can Big Data benefit large scale trading banks? 2. How did the MarkLogic...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Questions: 1. How can Big Data benefit large scale trading banks? 2. How did the MarkLogic infrastructure help ease the leveraging of Big Data? Application Case 7.2 Top Five Investment Bank Achieves Single Source of the Truth The bank's highly respected derivatives team is responsible for over one-third of the world's total derivatives trades. Their derivatives practice has a global footprint with teams that support credit, inter- est rates, and equity derivatives in every region of the world. The bank has earned numerous industry awards and is recognized for its product innovations. Challenge With its significant derivatives exposure, the bank's management recognized the importance of having a real-time global view of its positions. The existing system, based on a relational database, was com- prised of multiple installations around the world. Due to the gradual expansions to accommodate the increasing data volume varieties, the legacy system was not fast enough to respond to growing business needs and requirements. It was unable to deliver real-time alerts to manage market and counterparty credit positions in the desired time frame. Solution The bank built a derivatives trade store based on the MarkLogic (a Big Data analytics solution pro- vider) Server, replacing the incumbent technologies. < Before Before it was difficult to identify financial exposure across many systems (separate copies of derivatives trade store) After it was possible to analyze all contracts in single database (MarkLogic Server eliminates the need for 20 database copies) Replacing the 20 disparate batch-processing servers with a single operational trade store enabled the bank to know its market and credit counterparty positions in real time, providing the ability to act quickly to mitigate risk. The accuracy and complete- ness of the data allowed the bank and its regula- tors to confidently rely on the metrics and stress test results it reports. The selection process included upgrading existing Oracle and Sybase technology. Meeting all the new regulatory requirements was also a major factor in the decision as the bank looked to maxi- mize its investment. After the bank's careful investi- gation, the choice was clear-only MarkLogic could meet both needs plus provide better performance, scalability, faster development for future require- ments and implementation, and a much lower total cost of ownership. Figure 7.5 illustrates the transfor- mation from the old fragmented systems to the new unified system. Results MarkLogic was selected because existing systems would not provide the subsecond updating and anal- ysis response times needed to effectively manage a After MarkLogic Server /11 *** FIGURE 7.5 Moving from Many Old Systems to a Unified New System. Source: MarkLogic Questions: 1. How can Big Data benefit large scale trading banks? 2. How did the MarkLogic infrastructure help ease the leveraging of Big Data? Application Case 7.2 Top Five Investment Bank Achieves Single Source of the Truth The bank's highly respected derivatives team is responsible for over one-third of the world's total derivatives trades. Their derivatives practice has a global footprint with teams that support credit, inter- est rates, and equity derivatives in every region of the world. The bank has earned numerous industry awards and is recognized for its product innovations. Challenge With its significant derivatives exposure, the bank's management recognized the importance of having a real-time global view of its positions. The existing system, based on a relational database, was com- prised of multiple installations around the world. Due to the gradual expansions to accommodate the increasing data volume varieties, the legacy system was not fast enough to respond to growing business needs and requirements. It was unable to deliver real-time alerts to manage market and counterparty credit positions in the desired time frame. Solution The bank built a derivatives trade store based on the MarkLogic (a Big Data analytics solution pro- vider) Server, replacing the incumbent technologies. < Before Before it was difficult to identify financial exposure across many systems (separate copies of derivatives trade store) After it was possible to analyze all contracts in single database (MarkLogic Server eliminates the need for 20 database copies) Replacing the 20 disparate batch-processing servers with a single operational trade store enabled the bank to know its market and credit counterparty positions in real time, providing the ability to act quickly to mitigate risk. The accuracy and complete- ness of the data allowed the bank and its regula- tors to confidently rely on the metrics and stress test results it reports. The selection process included upgrading existing Oracle and Sybase technology. Meeting all the new regulatory requirements was also a major factor in the decision as the bank looked to maxi- mize its investment. After the bank's careful investi- gation, the choice was clear-only MarkLogic could meet both needs plus provide better performance, scalability, faster development for future require- ments and implementation, and a much lower total cost of ownership. Figure 7.5 illustrates the transfor- mation from the old fragmented systems to the new unified system. Results MarkLogic was selected because existing systems would not provide the subsecond updating and anal- ysis response times needed to effectively manage a After MarkLogic Server /11 *** FIGURE 7.5 Moving from Many Old Systems to a Unified New System. Source: MarkLogic
Expert Answer:
Answer rating: 100% (QA)
Explanation 1 Big Data has provided benefits to large scale trading banks in various ways as listed ... View the full answer
Related Book For
Business Intelligence and Analytics Systems for Decision Support
ISBN: 978-0133050905
10th Edition
Authors: Ramesh Sharda, Dursun Delen, Efraim Turban
Posted Date:
Students also viewed these programming questions
-
1. How can Big Data benefit large-scale trading banks? 2. How did Mark Logic infrastructure help ease the leveraging of Big Data? 3. What were the challenges, the proposed solution, and the obtained...
-
How can big data transform football decisions in the future?
-
A banks derivatives transactions with a counterparty are worth +$10 million to the bank and are cleared bilaterally. The counterparty has posted $10 million of cash collateral. What credit exposure...
-
Suppose that a telephone switchboard of some company on the average handles 300 calls per hour, and that the board can make at most 10 connections per minute. Using the Poisson distribution, estimate...
-
The following data relate to notes receivable and interest for Sciatic Co., a financial services company. (All notes are dated as of the day they are received.) Mar. 3. Received a $14,000, 9%, 60-day...
-
Uranium-238 (U-238) has a half-life of 4.5 billion years. Geologists find a rock containing a mixture of U-238 and lead, and determine that 85% of the original U-238 remains; the other 15% has...
-
Jill Riggins owns and operates Jills Java coffee shop. She proposes to account for the shops assets at their current market value in order to have current amounts on the balance sheet. Which...
-
Model 99 Hotels is considering the construction of a new hotel for $80 million. The expected life of the hotel is 20 years with no residual value. The hotel is expected to earn revenues of $15...
-
What is one brand strategy that would differ if you were to attempt to expand Nike to a different audience level, and how might it be applied? (For example, if Nike were branding for a local...
-
Image transcription text Example time steps for a 6 x 6 matrix Starting Matrix (Time Step 0) Time Step 1 Time Step 2 0 1 2 3 4 5 0 1 2 3 4 5 0 1 2 3 4 5 O O O O O O O O O O O O O O O O O W N K O O O...
-
Exercise 4 We have the below function: f) ={ 2x 1, if x> 2 x + 3, | %3D if xs 2 a. Find lim f(x) b. Find lim f(x) C. Find f(2) d. Determine if the function is continuous at point 2.
-
How might sophisticated task delegation and workflow optimization models improve organizational skills, and what metrics can be used to evaluate their efficacy ?
-
How can the principles of kaizen and lean methodology be applied to refine organizational skills within large-scale operational frameworks?
-
Intern met with the new intern to go over the new online reservation system put in place at the pantry. The new online reservation system has us signing up students for reservation time slots lots...
-
One difference in the assumptions of the Ricardian versus the specific-factors model is the following: The marginal productivity of labor is constant in the Ricardian model and declining as...
-
sin x Q2: Find the Derivative of y=Xx Q3: Find second order derivative of y=x+2x+3x+ x
-
A person borrows $100,000 at a simple interest rate r = 24%. He is to repay the loan with 2 payments, one at the end of 2 months and the other at the end of 6 months. The first payment is the same as...
-
You are standing at x = 9.0 km and your assistant is standing at x = 3.0 km. Lightning bolt 1 strikes at x = 0 km and lightning bolt 2 strikes at x = 12.0 km. You see the flash from bolt 2 at t = 10...
-
Identify and discuss the role of middleware tools.
-
Explain the following terms: neuron, axon, and synapse.
-
How are neural networks implemented in practice when the training/testing is complete?
-
A homogeneous disk of weight \(W\) and radius \(r\) is supported by two identical cylindrical steel shafts of length \(l\), as shown in Figure 2.70. From solid mechanics, for each shaft the relation...
-
A simple pendulum of initial length \(l_{0}\) and initial angle \(\theta_{0}\) is released from rest. If the length is a function of time according to \(l=l_{0}+\varepsilon t\), find the position...
-
When a manned craft is sent into space it is necessary to know the mass properties of the system, including the moment of inertia of astronauts on the flight, in order to accurately calculate its...
Study smarter with the SolutionInn App