Magazine article American Banker

Boston Bank Using Client-Server on Trading Floor

Magazine article American Banker

Boston Bank Using Client-Server on Trading Floor

Article excerpt

Bank of Boston Corp. has revamped its trading floor operation in an effort to tie together disparate systems and provide customers with faster and more complete information.

The wholesale banking giant spent $25 million to install a client-server system in its treasury department, which encompasses the bank's derivatives, foreign exchange, and investments groups. This is one of the most expensive and comprehensive trading floor redesigns of its kind, and represents a larger, far-reaching plan to convert much of the bank to unified client-server environment.

The new Unix-style operation will replace a diverse and fractured assortment of computing systems -- including personal computers and midrange servers -- that currently run Bank of Boston's treasury area.

Aside from creating a common architecture, the new trading floor system is expected to shift emphasis from traditional back office duties to a more customer-oriented focus, said Stephen Scullen, the director of treasury systems for the Boston-based bank. It will electronically link the traders directly with more up-to-date market data and a broader spectrem of customer information, due to the more integrated and user-friendly nature of the system.

Previously, traders would manually fill out a ticket, which was later entered into the banks' computers. Now, traders key the information into the system themselves, producing more of a "real-time response" and providing them with better analytics to manage the account, Mr. …

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