Piyush comes with over 13 years of IT experience with strong technical background in C++, VC++, Java, Perl, and messaging tools like MQ Series and BEA Tuxedo. His past experience includes big guns like Bank of New York, Software Associates, Merrill Lynch, and GE Investments. Piyush is currently a Tech lead at Medco Health Solutions. Piyush is undoubtedly one of the pillars of the Software Bulls’s Capital Market division.
Piyush believes his stint at Bank of New York (CLS Bank Project) was the most challenging assignment yet. Bank of New York is the largest custodian in the world with $ 7 trillion in assets. It controls very huge foreign exchange transactions on a daily and continuous basis. It is a founder settlement member of CLS Bank in London.
CLS Bank was conceived of and designed by the private sector to reduce the risks and effects of such a failure by simultaneously settling Instructions arising from cross-currency transactions. The exposures created by a failure of a major institution that participates in the foreign exchange trading markets could affect not just the counterparties of the failed institution, but might also have a systemic effect - spreading to other market participants and the international financial system as a whole.
Piyush worked on a project to integrate forex settlement via CLS Bank with the existing forex trading systems in Bank of New York. It was very challenging work and a very stimulating work environment. Forex settlement of very large amounts over a twenty four hour cycle is demanding work with no facility for delay or failure