Published on 15-Mar-2012
Customer:
IntercontinentalExchange (ICE)
Industry:
Financial Markets
Deployment country:
United States
Solution:
Business Analytics, Data Warehouse, Smarter Computing
Overview
IntercontinentalExchange, is a global commodities and derivatives exchange. They also run Clearing Houses around the world. They are similar to New York Stock Exchange, but they do equities and ICE does commodities such as oil, natural gas and power. ICE is unique because they build, manage and operate all of their software that runs their trading engine and clearing houses. In this video, you will hear from Betsy Meeker, the Director of Data Warehousing for ICE, she is responsible for all of the transactional data moving from the transactional systems into Netezza.
Business need:
There were several issues that led to ICE's purchase and implementation of Netezza. First, their incumbent system was not set to handle the data volumes that ICE had, and could only do floor exchanges, not electronic exchanges which is what ICE needed to be competitive in the market. Data redundancy was also an issue, which made it increasingly difficult to meet regulatory compliance mandates.
Solution:
ICE uses Netezza to create an end-to-end system so the compliance people can look at transactions from the time they are traded until they actually flow through the Clearning Houses.
Benefits:
Netezza has allowed ICE to put all of their compliance and regulatory systems into one data warehouse. When condensed, they were able to retire those 3 individual systems so ICE no longer had to maintain them from an operations perspective. Basically, they migrated their data in one day and even got a regulatory request from one of their external regulators. The query they ran to fulfill the request normally took 3 days, they were able to do this in 2 hours on Netezza.
Video
In this video, you will hear from Betsy Meeker, the Director of Data Warehousing for IntercontinentalExchange, as she discusses the journey they have taken with IBM Netezza. First, Betsy gives viewers a brief background on ICE and what the major business drivers were that led them to purchase Netezza. Betsy then goes on to discuss how Netezza was implemented into their environment and some of the major benefits they have seen so far.
- IntercontinentalExchange (ICE): Delivering same-day response to regulatory requests with IBM (2:04)
- Get YTF
Video Transcript
Betsy Meeker, Director of Data Warehousing, IntercontinentalExchange (ICE)
Part 1 – 01:50-02:04
IntercontinentalExchange is a global commodities and derivatives exchange. We also run Clearing Houses around the world. It’s similar to the New York Stock Exchange but they do equities and we do commodities such as oil, natural gas, power.
Part 1 -- 03:35-03:44
We use Netezza to basically create end-to-end system so the compliance people can look at transactions from the time they are traded until they actually flow through the Clearing Houses.
Part 2 -- 03:33-03:53
Netezza has allowed us to put all of our multiple compliance and regulatory systems into one data warehouse. When we did that we were able to basically retire those 3 individual systems so we don’t have to maintain them from an operations perspective. We don’t have to maintain them from a database perspective and we don’t have to move data and have it in three different places.
Part 1 -- 05:28-05:36
We can do with a half a developer what some of our legacy systems take multiple developers to do. Netezza just works.
Part 2 -- 06:03-06:35
We basically migrated our data in one day and we were pretty excited about it because we actually got a regulatory request from one of our external regulators. The query that we did to basically fulfill the request normally took about 4 days because it’s very large data request. We went ahead and tried this on Netezza rather than using the legacy system. We were able to put the data back together in about 2 hours and deliver it to our internal group that needed it for the regulatory body.
Part 1 -- 06:19-06:29
We’ve found that our uptime is phenomenal and our ability to answer the questions that our users have is most effective using Netezza.
Products and services used
IBM products and services that were used in this case study.
Software:
IBM Netezza 1000