XP on Wall St.

indexadjustmentInternet et le développement Web

13 nov. 2013 (il y a 8 années et 2 mois)

371 vue(s)

XP on Wall St.

Credit Technology

Steve Hayes



The business problem

The technology requirements

What we built

How we built it


Subsequent developments

Financial Risk

Every trade or position has risk/exposure

Mostly we hear about exposure to the markets

foreign exchange rates

interest rates

stock prices

There is also


Credit Risk

There are different flavours of default risk

settlement, contingent, loan, market (sic)

Complex relationships between parties

subsidaries, joint ventures, guarantors

And management tools

securities, guarantee, netting agreeements

Credit Department

Monitor exposure to

individuals, companies, corporate structures,
industries, sovereigns

Set credit limits

by company, by parent company, by product, by

Technology Requirements

Regular updates on all credit exposures

from every department, in every subsidiary,
in every geographic location

approx. 500,000 open positions

Limit setting tools

lots of research, information aggregation,
workflow management

Crisis Management

What’s the impact of a company

We need to know
right now

We may want to stop outgoing payments

What about an industry in trouble

e.g. Californian electricity

Or a sovereign?

Rumours (e.g. Y2K)

Technology environment

Feeding systems treated as legacy

Perl, shell scripts, C++

Outsourced to Infosys, India

Staff retention forced us to Java

Global deployment issues

Web based solutions more manageable

What did we build?

Lots of information retrieval/aggregation

web based

Java servlets

framework for automating single SQL queries
(with parameters)

3 tier workflow management

Java application on the client

RMI server

What with?

JDK 1.1/1.2

Visual Café, Visual SourceSafe

house servlet engine

Emergent frameworks

virtual tables, servlet framework, database
abstraction layer

Build scripts

DOS, Cygwin, JUnit


We used Extreme Programming

a small team (6 people) in a large IT
department (4,000 staff)

lots of freedom to choose development

no “official” endorsement of XP

Local Adaptations

Three development “streams”

One per customer

Primary customer in London

Pairs stable for a week

Lots of domain friction moving from one
stream to another

Programmers reluctant to switch frequently

Customer proxies on smaller streams

Were we successful?

Productivity high

Customer satisfaction very high

We all kept our jobs

XP was mandatory even after my

Later developments

Ant, Jikes

big benefits in speed, flexibility

JSP, Weblogic

Not clear that there was any productivity

Customer saw things slow down