Client

Israeli Bank, Tel Aviv

Key words

Summit, MUST, Training, Structured Products

Context

Our client needed to set up two new products: FX Volatility Swap and TARF (TARN FX).

They lacked the MUST capability in-house and requested that Phi provided not just assistance with the set up of the new products but also wider training in MUST to allow for self-sufficiency going forwards.

Solution

• Phi prepared a bespoke training programme and provided a MUST functional expert to deliver the training on-site in the client’s own Summit instance, with the client’s own familiar static and real market data.
• Following off-site preparation, the training consisted of 2 days of presentations and 3 days of workshops where the users implemented the products for themselves, with assistance, and completed exercises in trade entry, pricing, resets and documentation.
• At the end of the training the FX Volatility Swap and the TARF were correctly configured in the training environment and ready for delivery into wider UAT prior to production release.
• The trainees were confident of being able to set up similar products in the future without further assistance