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As process automation, digitization, and AI rapidly advance, businesses must future-proof their enterprise architectures to remain agile and competitive, particularly in industries where customer expectations have increased and compliance to stringent regulations is required. The old ways of monolithic platforms that have limited customization capabilities for business-critical processes just won’t cut it anymore.
That’s why global post-trade services provider Clearstream chose Camunda when building the second generation of its innovative D7 digital securities platform to orchestrate the platform’s newly designed microservices architecture. With this flexible, scalable architecture powered by Camunda 8 and Google Cloud services, Clearstream has made the issuance and redemption services processes of digital securities faster, more efficient, and more scalable.
Clearstream is a provider of global post-trade services. It runs the leading securities and funds servicing ecosystems for Deutsche Börse Group.
Clearstream operates three central securities depositories (CSDs), which act as the start and end points of a securities transaction.
Clearstream realized its previous D7 Generation1 platform’s architecture, due to the large size of the German issuance market, was quickly reaching its limits in terms of scalability. There was also a lack of end-to-end process visibility in the IT architecture, which made it difficult to monitor and to address process problems or errors at the back end. These challenges meant that the D7 platform needed to transform in order to deliver on the needs of Clearstream and the expectations of their clients.
The Clearstream team decided to further innovate its digital post-trade platform to enable mass issuance by introducing a fully microservices-based architecture, D7 Generation2, with Camunda as the central business process orchestrator. This core architectural enhancement to Clearstream’s D7 platform increased business agility and visibility into processes, while also supporting improved process scaling to handle large volumes and more complex workflows. This addition to Clearstream’s D7 platform increased business agility, visibility into processes, and supported process scaling to handle large volumes and more complex workflows.
D7 Generation2 now supports a wider range of complex Retail Structured Products (RSP), covering more than 95% of RSP issuance volume in the German market. The enhanced platform architecture, developed in cooperation with Google Cloud, brought improvements designed to make the issuance process faster, easier, and more efficient.
Besides the extended product scope, the main benefits are increased issuance capacity, a full straight-through processing vision and a streamlined issuance process for large volumes.
These benefits enable Clearstream to operate with more agility than before, as it is easier to integrate additional microservices into the overall infrastructure, enabling much better scalability.
“One of the main reasons we moved to a microservices architecture centrally orchestrated by Camunda was to support the scalability requirements from a CSD with large volumes,” confirms Julia Blankenberg, Vice President and Head of Cloud Office, Tools and Orchestration.
Incorporating Camunda as the process orchestration engine within D7 offered numerous benefits, including:
The Clearstream team chose Camunda for D7 based on its position as a flexible, composable, intelligent platform for end-to-end process orchestration across the enterprise. This functionality, plus competitive licensing costs, translates into faster value realization, enhanced control and transparency, and increased business agility for Clearstream to adjust as needed—all while maintaining cost efficiency and avoiding vendor lock-in.
Camunda’s Project Success Acceleration Program was also a benefit to the Clearstream team, throughout the project.
“We were really happy with the support provided by the Camunda experts – from the relationship side to BPMN quality assurance and to the technical support,” Blankenberg shared.
Clearstream plans to continue iterating on the D7 platform; it is a multi-year project which adheres to the overall Clearstream roadmap, with the main target to broaden its product offering related to asset classes and markets. The team wants full product coverage for all customers over time. The plan is to add more and more products onto the platform, with Camunda continuing to serve as the core orchestrator to new processes and business functionalities.
With its flexible microservices architecture with Camunda’s foundational process orchestration at the core, Clearstream has found a winning formula to innovation within a highly complex, stringently regulated, and customer-dependent industry.
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