The Trade Lifecycle: Behind the Scenes of the Trading Process

18

Systems

Definition: we define a system as a process run on a computer. We may also refer to a system as a suite of programs performing many tasks. Systems are built by the Information Technology (IT) department or by an independent software vendor.

Origin of a new system: there are three basic reasons why a new system would be required:

• The current process is being run by hand and it would be better if it was fully or partly automated.

• The current system needs improvement.

• A new process is needed.

18.1 WHAT MAKES A GOOD SYSTEM?

A good system is cheap, simple, efficient, reliable, robust, extendable and accurate.

Minimise cost: obviously cost is a major factor when evaluating systems. A cost-benefit analysis needs to be undertaken before deciding when to build.

For example, the cost of a new settlement system may be USD 100 000 per year. Currently settlement staff spend about 10 man-days per week performing activities related to settlements. An estimate would need to be made of how much this can be reduced by using the new system.

Simple: a simple system is easier to extend and maintain. More people understand it and clarity leads to greater confidence in its performance.

Efficient: an efficient system uses the minimum set of input data and resources and runs in the quickest possible time. This reduces dependencies, making errors less likely.

Reliable: a reliable system has a high probability of always working - that is, producing accurate results, putting them in the ...