Multi-Billion Dollar Hedge Fund Migrates Proprietary Apps to the Cloud
A multi-billion-dollar hedge fund mapped their move to the cloud, but discovered their bespoke, proprietary apps wouldn’t make the jump. They turned to Agio and Themis to conduct a frictionless cloud migration.
The challenge.
This firm was dependent on a trading model in Microsoft Excel for buy/sell decisions. The Excel workbook was linked to Bloomberg for market data, and position data was manually updated. Unfortunately, the model wasn’t flexible enough to work in the cloud, and the firm needed the application rebuilt to make it compatible.
In our initial assessment, we discovered a red flag in the firm’s application management process: only one person knew how to maintain the Excel model, and the processes weren’t documented. They would need improved accessibility, documentation, and training.
Our solution.
Rather than writing software from scratch, we advised the firm to take advantage of the ThemisOne Framework.
While Agio scoped specifications for running the complete IT environment in Azure, Themis created the Azure infrastructure, including Azure AD, web services, development VM, and a production server, and worked with Bloomberg to configure HAPI and optimize the market data costs.
ThemisOne
A library of reusable functions and routines for faster application builds.
Usability
Developed an accessibility, documentation, and training program for the client to eliminate key person risk.
Cloud
Infinite scalability, significant cost savings, and secure infrastructure to meet or exceed regulatory requirements.
The results.
Stored Data in Azure Database vs. Excel
Seamless Migration to the Public Cloud
Employee Education
Reduced Costs
Proactive Security
App creation, environment migration, and training were a success. Because the new trading model had reusable code and stored data in an Azure database instead of an Excel workbook, it instantly became scalable and available to authorized users. The new application required much less oversight to manage missing and out of tolerance data, and any maintenance or improvements were made by the client (with support as needed).
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