Summit Decom

Terms of Reference

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 Summit Decom
Terms of Reference

TABLE OF CONTENTS

Document History 3

Document Approval 3

1. Project Description 4

2. Business Rationale 5

3. Project Scope 6
3.1 In Scope 6
3.2 Out of Scope 6

4. Business Requirements Overview 7

5. Delivery Approach 8
5.1 Project Management Approach 8
5.2 Business Analysis Approach 8
5.3 Technical Delivery Approach (intelliMATCH Development) 9
5.4 UAT Approach 9
5.5 Asset Classes – SME Support & Sign-off Authorisation 9
5.6 Key Delivery Artefacts 9
5.7 Priority 10

6. Project stakeholders 10

7. High Level Plan Milestones 11

8. High Level Plan 13

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Document History

No. Date By Changes Applied

1.0 08/08/2012 Nigel Hooper 1st draft
1.1 15/08/2012 Nigel Hooper Descoping of Rc48 (now removed from
document), change of owner to Rc04,
amendment to Darren Sevket responsibilities

Document Approval

Name Role Business Area Sign-off

Ryan Lawrie VP Ops Control Change Y
Oliver Scamans VP iMatch Development
Jarrod Bilbe VP Ops Global Change Program Y
Darren Sevket Director Summit IT
Ross Underwood VP FICC FX MO Y
Stephen Hunter Director FICC FI Rates PTS
Stephen Geddes Director Collateral Management
Tracey Stratford VP FICC Loans PTS Y
Rizwan Saigol VP FICC Commodities MO
Lakshmi Rao VP EDG Y
Hiresh Sonthalia Director India Branch
Jason Hatley VP FICC FI Credit MO
Robert Cassady Director FI Rates Program Manager
Chris Jones Director ES IT
Brett James VP FICC FI Rates PTS
James Hawkins Contractor iMatch Development FYI
Fraser Mackenzie MD Ops Control Shared Services FYI
Deborah Cowles Director Ops Control Change FYI
Lesley Mathers Director Ops Control & Documentation IT FYI
Faye Dobson AVP Ops Global Change Program FYI
Brian Williams Director Ops Control FYI

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1. Project Description

Summit is a vendor application with integrated end-to-end business functionality. Summit has
been the primary FI Derivatives platform since 1998 with approximately 865,000 live trades
and over 2,500 users across the Investment Bank.

As well as the Rates native business, Summit holds the Rates derivative hedges for a number of
businesses. Over the years Summit has also been utilised to hold a variety of other trade types
by taking advantage of its flexible booking which has created downstream trade representation
issues.

iMatch currently receives a bespoke file from Summit for each reconciliation using Summit
data. With its decommission, this feed will be turned off meaning iMatch will no longer receive
the data required.

Once Summit trades are migrated to the strategic trade booking systems, for example TCW
and TMS, trade economics and cash flow data will available through EDDI (Enterprise Data
Distribution Infrastructure).

A bespoke file will not be received; iMatch will query data tables to extract the data required
for each reconciliation. All reconciliations identified as being impacted by this change, and still
required, will be rebuilt using this new technology.

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2. Business Rationale

In line with the agreed Strategic Architecture, the decommissioning of Summit is being carried
out to address the following:

Scalability

 The flexibility of Summit has meant it has become over-utilised as a solution for
operational purposes, many of which do not scale
 Compliance with upcoming Regulatory Reporting deadlines for all businesses will be
challenged if Summit is part of the flow

Reduced Operational Risk

 With low STP rates on many products, especially the more exotic derivatives, dual
keying required with Summit leads to increased risk
 The complexity of the Summit environments leads to an inefficient and cumbersome
reconciliation process
 Summit Operational Risk events are caused by the complexity of the environments,
specifically around calculating and managing cash

Operational Efficiency

 The placeholder concept in Summit leads to difficulties downstream in treatment of

products for Finance and Risk
 Removal of Legacy Technology – Summit is on bespoke support with unsupported
hardware. The bespoke element makes the Barclays version of Summit very complex to
upgrade and maintain

Reconciliations are a mandatory control around the trade booking process. This project will
ensure that all reconciliations are in place for the cash cutovers and migrations from Summit.

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3. Project Scope
3.1 In Scope

The following reconciliations are considered in scope for this project:

Reconciliatio Reconciliation Name Asset Class Business Owner

n Code
Rc01 Summit vs Murex FICC - FX Ross Underwood
Rc02 Summit vs ACBS FICC – Loans Tracey Stratford
Rc02B Summit vs ACBS – Cash Balance FICC – Loans Tracey Stratford
Rc04 Summit vs GBS vs Devon FICC – FI Rates Brett James
Rc05 Summit vs SDAPS FICC – FI Credit Jason Hatley
Rc06 Mumbai Rec India Ops Hiresh Sonthalia
Rc10 Rates vs MM Desk FICC – FI Rates Stephen Hunter
Rc12 Summit vs Openlink FICC – Commodities Rizwan Saigol
Rc13 Summit vs Sophis EDG Lakshmi Rao
Rc22 Summit vs Exposure Manager Collateral Management Stephen Geddes
Rc33 Platinum Rec FICC – FI Rates Stephen Hunter
Rcn SSI’s re Rc33 FICC – FI Rates Stephen Hunter

Where required, a new build reconciliation using EDDI data will replace the existing Summit
reconciliation. The aim will be to replicate the existing reconciliation ensuring there is no loss
of control with the move onto the new upstream architecture. This is contingent on receiving
upstream data from EDDI in order to complete the business analysis and then to complete UAT.

3.2 Out of Scope

The following are considered as being out of scope for the purposes of this project:

 The initial linking of the EDDI data will be the responsibility of iMatch Dev
 Wholesale redesign of reconciliations – any currently known issues will not be
remediated
 Execution of UAT – this is the responsibility of the Asset Classes. Change will provide
oversight and manage the UAT process.

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4. Business Requirements Overview

Current flow:

Future flow:

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To successfully complete the project, existing reconciliations and Summit data extracts will be
analysed in order to ascertain what EDDI data is required to be included. This will be completed
in conjunction with the business.

The business requirements document will contain:

 Details of the EDDI data extraction logic (i.e. what is to be included within the
reconciliation
 Fields to be included – showing the mapping between the EDDI data and the ‘other
side’ file where appropriate
 Matching fields and rules
 Any data translations which are required – e.g. converting data to capitals from lower
case
 Reconciliation SLA details and timings, highlighting where this will be different from
the current reconciliation as necessary due to EDDI data being available at different
times
 Reporting details – i.e. dashboard reports / breaks to be viewed on the GUI
 Ageing requirements
 Details of any dashboard report

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5. Delivery Approach

5.1 Project Management Approach

Core project management controls will be delivered, with the creation of relevant stakeholder
engagement, project planning and RAID management.

Status reporting will be provided by means of:

 Weekly status reports
 Fortnightly Level E project group calls

5.2 Business Analysis Approach

Initial business analysis will be completed once the EDDI files are linked to gain a thorough
understanding of the data being provided and how it can be best used in the reconciliations.

Further business analysis will be completed with the relevant Asset Class team to produce a
single detailed Business Requirements Document per reconciliation, to ensure the current
reconciliation is replicated as closely as the data will allow.

All detailed business requirements will be walked through with the relevant Ops Control
production, Asset Class and IT teams with a view to securing full sign-off from each respective
area, ahead of the commencement of the Delivery phase.

5.3 Technical Delivery Approach (intelliMATCH Development)

On completion on a fully signed-off Business Requirements specification, the document will be

walkthrough with IT by Ops Control Change – in order to incorporate any additional technical
feedback or clarifications.

iMatch Development have committed to providing 1.5 FTE equivalent to ensure all builds are
complete, and testing signed off, within the program timeframes.

5.4 UAT Approach

The following details the key outputs (and owners) created to support a robust UAT Phase:

 Test Plan (Change and IT)

 Test Scripts (Change and Asset Class)
 UAT Fault Log (Change and IT)
 Weekly UAT Summary Report
 TRB Presentation Pack

5.5 Asset Classes – SME Support & Sign-off Authorisation

The Asset Classes owning impacted reconciliations will provide the following to support the
delivery of the project:

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 Provision of appropriate Subject Matter Expertise during analysis phase

 Provision of review and sign-off on all specified requirements
 Provision of UAT support – through definition and execution phases
 Provision of Live Proving support

5.6 Key Delivery Artefacts

The following is summary of key artefacts that will be delivered by the Ops Control Change
Management Team for delivery of the project:

 Terms of Reference
 Detailed Business Requirements Document per reconciliation
 Query / Action Logs (as appropriate)
 Project Plan
 RAID Document
 UAT Test Plan
 UAT Scripts (as appropriate)
 Weekly Status Report

5.7 Priority

The order of work has been constructed to fit in with the Summit Decom program milestones
(please see section 8).

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6. Project stakeholders
Specified below are the key stakeholders related to the delivery of this project.

Area Name Role Project Responsibility

Ops Control Change Nigel Hooper Project Manager / Creation of project
iMatch BA documentation, business
analysis, project
management
iMatch Dev James Hawkins Developer Development of EDDI file
linking and reconciliations
Ops Control Change Ryan Lawrie Owner of EMEA Book Ensuring adequate Change
of Work resource is available
iMatch Dev Oliver Scamans Development Ensuring adequate Dev
Management resource is available
Central Change Jarrod Bilbe Change Manager Sign off ToR, report back to
Program
Summit IT Darren Sevket Summit Decom Sign off ToR,
Implementation
Central Change Ben Green Change Manager Sign off ToR, report back to
Program
FICC FX MO Ross Reconciliation Owner Sign off ToR, BRD and UAT,
Underwood ensuring SME availability
FICC FI Rates PTS Stephen Hunter Reconciliation Owner Sign off ToR, BRD and UAT,
ensuring SME availability
Collateral Stephen Reconciliation Owner Sign off ToR, BRD and UAT,
Management Geddes ensuring SME availability
FICC Loans PTS Tracey Stratford Reconciliation Owner Sign off ToR, BRD and UAT,
ensuring SME availability
FICC Commodities Rizwan Saigol Reconciliation Owner Sign off ToR, BRD and UAT,
MO ensuring SME availability
EDG Lakshmi Rao Reconciliation Owner Sign off ToR, BRD and UAT,
ensuring SME availability
India Branch Hiresh Sonthalia Reconciliation Owner Sign off ToR, BRD and UAT,
ensuring SME availability
FICC FI Credit MO Jason Hatley Reconciliation Owner Sign off ToR, BRD and UAT,
ensuring SME availability
FI Rates Program Robert Cassady Decom Program Sign off ToR
Manager Manager
EDDI Chris Jones ESIT Program Manager Sign off ToR

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7. High Level Plan Milestones

The following section detail, the key project delivery milestones that will form part of the
project delivery plan.

Key Delivery Milestones Estimated Target Date

EDDI sample data available for linking work 31/07/2012
Initial iMatch Development work to link EDDI files 10/08/2012
Rc22 BRD complete and signed off 24/08/2012
Rc10 BRD complete and signed off 07/09/2012
Rc13 BRD complete and signed off 21/09/2012
Rc22 Development work complete 21/09/2012
Rc12 BRD complete and signed off 05/10/2012
Rc01 BRD complete and signed off 22/10/2012
Rc13 Development work complete 22/10/2012
Rc02 BRD complete and signed off 02/11/2012
Rc10 Development work complete 02/11/2012
EDDI data available for parallel testing 05/11/2012
Rc02B BRD complete and signed off 16/11/2012
Rc12 Development work complete 16/11/2012
Rc22 UAT complete and signed off 16/11/2012
Rc10 UAT complete and signed off 16/11/2012
Rc33 & Rcn BRD complete and signed off 30/11/2012
Rc13 UAT complete and signed off 30/11/2012
Rc04 BRD complete and signed off 14/12/2012
All Swiss Scandi BRDs signed off 14/12/2012
Rc01 Development work complete 14/12/2012
Rc02 Development work complete 14/12/2012
Rc12 UAT complete and signed off 14/12/2012
Rc05 BRD complete and signed off 28/12/2012
Rc01 UAT complete and signed off 28/12/2012
Rc02 UAT complete and signed off 28/12/2012
Rc05 BRD complete and signed off 11/01/2013
Rc02B Development work complete 11/01/2013
Rc02B UAT complete and signed off 25/01/2013
Rc33 Development work complete 08/02/2013
Rc04 Development work complete 08/02/2013

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Key Delivery Milestones Estimated Target Date

Rc33 UAT complete and signed off 22/02/2013

Rc04 UAT complete and signed off 22/02/2013
Rc05 Development work complete 08/03/2013
Swiss Scandi Cutover (exact date TBC) 11/03/2013
Rc05 UAT complete and signed off 22/03/2013
Rc06 Development work complete 05/04/2013
GBP Cutover (exact date TBC) 15/04/2013
Rc06 UAT complete and signed off 19/04/2013
Rc11 UAT complete and signed off 03/05/2013
EUR Cutover (exact date TBC) 13/05/2013

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8. High Level Plan

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