As with many large financial institutions, Mizuho generates and maintains its trading and risk data in multiple systems. This disparate approach creates challenges to producing consolidated views of risk that are consistent and fast enough to keep up with the business and regulatory requirements. Orchestrade enables Mizuho to achieve a consistent view of P&L and risk in near real-time by leveraging a modern, open API framework.
The implementation of Orchestrade delivers critical benefits to Mizuho including:
• Reduction in time spent in manual processing and reconciliation
• Lower running costs through operational simplification and automation
• Increased flexibility in representing risk measures to different businesses and front office users
Mizuho selected Orchestrade after an extensive review of other third-party systems as well as internal build. "It was clear from the onset that Orchestrade offered everything we needed in terms of product coverage and risk management capabilities," states David Blake, Managing Director, Head of Market & Liquidity Risk Management at Mizuho Bank. "In the end, Orchestrade delivered on all fronts. The quality and speed of the implementation has exceeded our expectations, and we view Orchestrade as a strategic part of our trading and risk IT going forward," he added. The implementation from selection to production was accomplished in 9 months, on schedule and within budget.
"We are extremely proud to add Mizuho to our growing list of global bank clients," notes Gordon Chan, VP Marketing, Orchestrade. "For financial enterprises who do not want to go through a costly rip-and-replace strategy covering several legacy systems, Orchestrade offers a market-tested solution that enables firms to rapidly meet immediate regulatory and risk reporting requirements, with the added potential to replace entire legacy front office or back office systems in the medium or longer term."
Orchestrade is the only institutional-grade, cross-asset capital market platform launched after the financial crisis. It is designed to dramatically reduce IT dependency during implementation and operation by delivering a native, cross-asset, end-to-end solution that is connected to the capital market ecosystem out of the box.