Conversion of VP SECURITIES‘ IT system from a 1980’s to a modern system in the period from December 2010 – January 2012
The case in short
When you realize your old systems are no longer supported you need to act
The key to VP SECURITIES’ IT success lies in the strategic decision to convert the 1.8 million lines of code without any changes from the old development system into the new development system. It meant that the mode of operation in the new system could precisely be compared to the mode of operation in the running legacy system.
The result was that VP’s IT project team was a hundred percent certain that the systems which the development employees were used to work with would be identical to the new environment – only with more and better development possibilities on the new platform. VP’s conversion model meant both fast conversion of the systems and a subsequent, markedly reduced period of training for the employees. To CIO of VP Carsten Nørgaard there is no doubt that the choice of conversion method made the overall success for VP SECURITIES.
VP SECURITIES A/S
VP offers its clients innovative solutions and expertise in the field of securities and investor administration. We have developed internationally recognised securities handling systems and contribute to stable, safe and fast securities trading. VP is the central securities registration agent in Denmark and is an approved CSD as stipulated by the Danish Securities Trading Act. VP also supports issuances of securities in the Euro area via its subsidiary VP LUX in Luxembourg.
VP works in the following main fields of business:
- ‘Issuance and Depository Service’ provides services in connection with all types of securities and storage of securities in both end-investor and omnibus accounts
- ‘Clearing Services’ takes care of clearing and settlement of securities transactions
- ‘Custody Services’ offers a depot and back-office service to both Danish and foreign clients
- ‘Investor Services’ offers a complete package of counselling, support and software tools for effective investor relations management.
People to contact about this case
At Xact Consulting A/S
Elvin Høyer – CEO and data migration ekspert
Phone: +45 2360 1466
Lars Kaare Andersen – CTO and convertion ekspert
Phone: +45 2360 1488
At VP SECURITIES A/S:
Carsten Nørgaard – CIO
Phone: +45 4358 8709
Kim Reinert – Head of Methods and Architecture
Xacts Consultings contribution
Xact Consulting A/S was in on the project from day one and has among other roles been in charge of planning the project as well as performing the actual conversion process.