What was the project about and what role did firstwaters play in it?
Trading in CO2 emission allowances was to be established as a new business area. Since the Calypso system was already in use for a number of other asset classes, a front-to-back implementation of the commodity module for carbon emission trading was chosen. Solutions were developed for all phases in the lifecycle of the new spot and forward transactions - from the creation of new master data, product mapping, valuation, position management and settlement, to the delivery to downstream systems - that fit seamlessly into the existing processes.
firstwaters supported the project in business analysis and system configuration, in software development and in functional test and defect management. Our colleagues worked on individual topics "face-to-face" within the framework of a "travel-to-meet" instead of a "travel-to-work" whenever it was necessary and useful.
What factors were important for the successful completion of the project?
A particular challenge arose from the fact that this was a completely new product that had to be integrated front-to-back into the existing system landscape. In addition, important key resources were lost in the process, which had to be compensated for by the firstwaters developer pool. However, with our extensive expertise and structured methodical approach, we were able to overcome these challenges without any problems.
What lessons can we learn from this project?
We are pleased to be able to add the asset class CO2 emission allowances / commodities to our Calypso portfolio with this project. We provided special support in the context of individual customizations, e.g. in the implementation of the booking logic including VAT, in the creation of invoices for the deliveries of CO2 emission allowances and for a connection to the DEHSt as "central depository" of the CO2 emission allowances. We also gained excellent experience with the role of the functional test manager, who was able to close the gaps between an overarching overall project test management on the one hand and a large number of individual functional and technical customers on the other very efficiently. Last but not least, the process and IT landscape that has been created can also be expanded at a later date to include new products in this area.