GNI has gone live with OST Business Rules at its London head office, allowing 200,000 accounting entries per day. The new system will run in tandem with the old for two months, in order to allow for a smooth transition.
This implementation has enabled GNI to integrate its back office financial and reporting systems with Rolfe & Nolan, which is used system for processing exchange traded and OTC derivatives.
GNI needed to overhaul its systems following the significant growth of volume transactions, resulting from the implementation of GNI touch (an Internet based trading facility) and Contracts for Difference (an equities product).
The implementations created pressures on existing reporting systems, which were a mixture of in-house and standard desktop applications, a hybrid that was having difficulties handling the increasingly complex databases and spreadsheets. The system of management reporting was also limited with the old systems, as they were unable to provide daily P&L reporting. This has been resolved with the new system.