Deutsche unveils IT 'vision' for derivatives

Deutsche Bank has started a radical overhaul of its derivatives technology that, internally, it is calling its 'vision programme’ for derivatives. The bank has now entered the first six months of an ambitious three-year programme designed to overhaul the German bank's information technology (IT) blueprint for derivatives business, according to bank officials.

The programme will support the bank’s approximately 150 traders who work in interest rate derivatives, credit derivatives and emerging markets, officials said.

The main components include: 1,000 recently deployed Intel-based IBM blade platforms running SuSE Linux; PaceMetrics business process management middleware, Summit Systems applications and proprietary risk management software, said Diane Brunsden, Deutsche Bank’s head of IT for derivatives. Brunsden heads a team of 300 for the project.

The programme has its origins among those on the business side, Brunsden says. Their needs were translated into a plan of action that encompasses processes and technologies, some of which will be new.

“This is very much necessity-driven,” said Brunsden, who added that there was never any other choice than to let the business drive the process. “It’s impossible not to have the business behind you,” she said.