Man Metals saves business after Sept 11

In the wake of the September 11 attacks, the New York offices of Man Financial, one of the worlds largest futures and options brokerage firms, were rendered inaccessible due to their close proximity to the former site of the twin towers. When the disaster recovery process commenced, Mans NY metals team lacked stable communications networks to link displaced employees with their customers as well as colleagues in other Man offices. Another key loss for the metals team was direct access to essential data such as open positions and cash balances in client and proprietary accounts. Most importantly, Man would have to re-build fast, secure, and reliable conduits for their customers trade activity on the LME and soon-to-reopen COMEX.

Previous to the crisis at the New York offices, Charlie Hatton, Senior Vice President at Man Financial, had been investigating potential online services packages. Hatton wanted to offer Mans global clients web-based access to their account information 24-hours a day.

After a lengthy competitive selection process, Hatton focused on software developed by SDS Applications Ltd in London, a firm specializing in developing systems for commodity traders, especially for members of the London Metals Exchange. Hatton felt SDS could enable us to offer our clients accurate, up-to-date account information via the web which could be accessed worldwide."

After the NY office evacuation, Hatton requested SDS to take emergency measures. He asked SDS to give the New York team remote access to its client information, including Open Positions and Ledger Balances, in the hopes that Man traders would be able to effectively offer a seamless trading service to customers.

In 24 hours, SDS Applications set up an online platform that provided Man traders with the client information they desperately needed. Trades were soon being routed electronically to the London Clearing House and Mans trade processing group located in their London office. Business was returning to normal.

Less than a year later, Man Financial utilises the complete package of SDS Trading Software and Online Client Services. In the moment of our greatest need, SDS responded instantly, providing us with the system we needed to move forward." said Hatton. In the longer run, though, it is SDS understanding of an LME companys unique requirements as well as the quality of SDS software that has made SDS Applications the primary trading software provider for Man Metals."

SDS Applications Ltd specialises in developing software solutions for Commodities Trading Companies, with a focus on metals dealing and brokerage firms. SDS clients include Man Financial, MG/Sempra, Natexis, Carr Futures and Mitsui, as well as other members of the London Metal Exchange. The SDS Commodities Trading System is comprised of a range of modules including Online Client Trading Services and Reporting, Trader Tools and Trading Software, Warrant Management, and interfacing capabilities into existing back office systems, LCH, LME Select, and price vendors. If you require additional information on SDS Applications Ltd, please contact Michelle Gielan, Sales Account Manager at 01494 778863 or visit www.SDSMetals.com.

Man Financial, Man Group's Brokerage division, is one of the world's major futures and options brokers and commands a global financial presence with principal offices in New York, Chicago, London, Paris, Singapore, Taiwan, and Sydney. Today the division provides agency broking and other related services to a worldwide client base, which ranges from banks, 'CTAs', 'Hedge Funds' and major industrial groups to individual private clients. For additional information on Man Financials Metals Team, visit www.manmetals.com.