10th AMEDA MEETING Marrakech - October 21-23, 2009 Rachid HABOUB
2 PRELIMINARY REMARKS
WHAT IS MCL UP TO ? 3 NEW MARKET INFRASTRUCTURE Current platform went live in 1998 Completed over 10 years loyal service
Environment has changed considerably Trading volumes picked up Spectrum of instruments has widened Structured products are emerging Expectations of market players are much higher 4
The main features of our target platform are the following : Four-tier Architecture User interface layer Application layer Communication service layer Database layer 5
Business continuity On the main site Production system + hot stand-by system, connected by a HACMP cluster. On the DR site Synchronous replication mechanism between Production and DR is considered. 6
Authentication/Security Use of a combination of BPID/User ID/Password + use of RSA token Data encryption (data in transit between browser and web server using HTTPS) SSL encryption for CFT 7
Communication media Dedicated leased lines VPN as back-up vector 8
Business model 2 different business models in parallel : Exchange trades : GNS / T+3 OTC trades : GGS / T+0 NB : Different components will be dedicated to specific segments 9
Implementation time-frame Full stack (Main+DR) has been installed Application being tested Bi-lateral testing with BP’s under way Users training to be performed in few weeks from now Final release of the application expected shortly Go-live date still to be firmed up (current target is early 2010) 10
CONCLUSION CSD’s are facing many challenges : 1- Technology change 2- Market change 3- Regulatory change 11
Thank you