Transcript CONCLUSIONS DE LA REUNION TENUE A LA DIRECTION DU …

10
th
AMEDA MEETING
Marrakech - October 21-23, 2009
Rachid HABOUB
PRELIMINARY REMARKS
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WHAT IS MCL UP TO ?
NEW MARKET INFRASTRUCTURE
Current platform went live in 1998
Completed over 10 years loyal service
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
Environment has changed considerably
• Trading volumes picked up
• Spectrum of instruments has widened
• Structured products are emerging
• Expectations of market players are much higher
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The main features of our target platform are the
following :
 Four-tier Architecture
• User interface layer
• Application layer
• Communication service layer
• Database layer
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 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.
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 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
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 Communication media
• Dedicated leased lines
• VPN as back-up vector
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 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
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 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)
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CONCLUSION
CSD’s are facing many challenges :
1- Technology change
2- Market change
3- Regulatory change
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Thank you
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