Continuing our focus on recent client success stories, today I wanted to take a look at one of our more recent case studies, which does a great job highlighting the work we do when supported by our leading partners. In this case, Equinix. The client, Catena Technologies, turned to Datapipe to build, manage, and secure their infrastructure 24×7 for their customers, while seamlessly scaling their delivery capability.
Setting the scene
Catena Technologies is a consulting and software company that works with banks and other financial institutions to implement technology solutions. Their main product, TRACE Reporting,™ is a trade repository software solution that captures, consolidates, enriches, transforms, and provides regulatory reporting for over-the-counter (OTC) derivative trade, valuation, and collateral information. The solution is used by a variety of financial institutions, such as banks, trustees, brokers, asset management, and hedge fund firms.
Since 2013, Catena Technologies has offered TRACE as an off-the-shelf software product that customers can purchase and install on their own internal infrastructure. As more customers faced higher-volume trading requirements, coupled with the mounting realization of the pain of manual reporting, the demand for a fully automated version of TRACE that would make electronic submissions to the trade repository automatically and maintain a historical audit trail of submissions increased dramatically. This posed challenges to customers’ infrastructure teams, as automatic submission and audit involves provisioning and maintaining databases, setting up and maintaining the connectivity to the trade repository, and managing a sophisticated workflow to integrate multiple source and destination systems. Some of these customers actually turned to Catena to help them host the TRACE solution for them.
Enter the dynamic duo
To accommodate this new demand, the company initially turned to Equinix, our data center and colocation service partner that operates over 100 data centers on five continents. Catena was pleased with Equinix’s infrastructure, however, a collaboration with Equinix would require constant monitoring, management, and support from Catena on behalf of its customers. Equinix recommended Datapipe to address Catena’s additional needs (learn more about the Equinix and Datapipe relationship here: Partner spotlight: Equinix). After evaluating another potential partner, the Datapipe team’s capability, award winning client support, and local presence in Singapore was the best choice for Catena Technologies to deliver the responsiveness its customers need.
What was the result? The CEO of Catena Technologies, Aaron Hallmark, says it best: “Offering a hosted solution has made us more competitive than other trade reporting vendors. Not only can we continue to offer our installed software, but we now have an efficient hosted solution aligned to the MAS requirements. We can spin up on-demand for our customers in need of a hosted environment with ongoing management and support.”
To read more about the specific solution Datapipe implemented on behalf of Catena with the help of Equinix, and to see the business benefits the company was able to achieve as a result, see here.