LIFFE
Scenario
Review of IT function aimed at improving cost-effectiveness
Situation
LIFFE initially appointed Charteris to review its IT function
to identify scope for reducing costs and increasing cost-effectiveness.
At the time LIFFE was under severe pressure to cut costs
quickly, whilst embarking on a major transition from floor-based
open outcry trading to electronic, screen-based trading.
Charteris Role
LIFFE retained Charteris to help implement the review's recommendations,
to re-organise the IT function and to support IT Management
in carrying through the trading systems transition without
any significant increase in IT resource levels. Within
four weeks, Charteris was able to identify cost savings
and to identify key issues for the transition. Further
significant cost savings were realised through a new approach
to managing IT contractors, the implementation of a timesheet
system and new planning and prioritisation processes.
Solution
In parallel with IT planning and management support, Charteris
advised LIFFE on strategy; conducted an in-depth review
of the Exchange's marketing functions which led to their
fundamental re-organisation, helped the business recovery
planning team to prepare for the Year 2000; and reviewed
the operational standards for LIFFE CONNECT(TM), its
new trading platform.
Charteris has also undertaken strategic business planning and modelling
for LIFFE. We helped to design LIFFE's new technology
business venture based on CONNECT(TM) and managed the
process which selected LIFFE's technology partner and
negotiated heads of agreement for service provision and
joint commercial initiatives.