“We try to remain focused on the core business—building expertise. The most important aspect for us is the proficiency and seniority of our consultants in providing expertise both on the technology and business front in financial markets,” asserts Ziad Chammaa, Co-founder of Iridium Consulting. The company was founded in 2003, bridging the gap between vendor systems like Murex and the clients. “Vendors were selling software on specific systems that clients were trying to implement in their infrastructure. We noticed that in the U.S. there was no company that had the expertise to assist clients to collide and implement those systems, ” says Chammaa. Today, the company supports services and implements solutions around capital markets with a special focus on trading solutions from Murex, SunGard, and Calypso.
Covering a very large spectrum of products and functionalities in capital markets, Iridium Consulting offers Project Management services that work towards customizing the solutions under different methodologies such as Agile and Waterfall to meet the clients’ business requirements. Furthermore, the company provides Business Process Management where it delves into the sensitive factors of a project—business process review, optimization, and reengineering. The company also extends an application testing methodology through ART, an innovative methodology that helps determine what needs to be tested.
Iridium Consulting also renders its clients with Iridium Managed Services (IMS), a set of bundle services that allows clients to outsource support and run their trading systems without interruption at a reasonable cost. Moreover, the firm’s product, ‘BackStage’ is a Business Intelligence (BI) application designed to process reconciliations, capable of matching key-less data with different levels of sophistication. It is a customizable workflow solution that allows tracking breaks with statuses, comments, and valuable information such as aging and trends.
Portraying Iridium’s in-built expertise on the subject matter is a Fortune 100 financial services organization that is a retirement provider for people working in the academic, research, medical, and cultural fields. “The client wanted to automate tasks and controls for its derivatives trading desk, such as data reconciliations, exception reports, error detections, notifications, alerts, job scheduling, and live dashboards,” says Chammaa. Iridium implemented BackStage and enhanced its functionality to meet the exact scope of the OCD (operational cycle driver). The firm also provided subject matter expertise on the various technologies used by the client in order to create an autonomous and self-organized team. “This was five years ago; today it’s a major application. We’ve done multiple enhancements and we find this a huge success for us, especially on the ‘BackStage’ part of our company,” he adds.
Extremely agile and focused on the business, Iridium Consulting takes pride in its ability to engage with its clients and become a part of the team administrating or managing the clients’ businesses. For the years ahead, the firm foresees to encourage more reactive trading system architectures, while regulations mandate frequent and accurate reporting. “Our biggest investment will be to find creative and efficient manners of upgrading legacy applications for our clients,” concludes Chammaa.