5 Steps to a Successful Trade Migration Programme

Citihub Consulting is often asked to help when large financial services organisations restructure or need to replatform their trade population. This can be at the inception of a strategic simplification or consolidation exercise; in other situations, it’s to rescue a programme struggling to deliver the benefits promised many months or even years ago. Unless well-defined with strong governance and controls, such programmes often go significantly over budget or become delayed, diluting the business case and failing to deliver on the committed benefits.

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In our experience, there are 5 key areas to get right to achieve the desired goals within the timelines and budget of the programme:

  1. A sound business case is imperative – banks no longer have the discretionary budget for vanity programmes.
  2. Truly understand the trade population – savings from simplification and decommissioning typically only occur once the last trade has been migrated off a legacy platform (not the first).
  3. Think “front to back” – trade migrations don’t stop at the middle office. Consider all downstream participants as part of a holistic target operating model.
  4. Create a migration strategy that is fit for purpose – moving a desk trade by trade might be the most flexible approach but how will the desk’s risk be aggregated in the interim?
  5. Build the right team – internal SMEs taken from the line are important; backfill where necessary. Strong governance and controls are critical to success.

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The Author

Matt Gall

Matt Gall


Matt leads the firm’s Business Transformation practice, focusing on the execution of strategic front-to-back change. He brings more than 25 years’ experience across the full technology life cycle, bridging business and technology functions in the delivery of strategic capital markets programmes.