Case study
Magnetar Capital
Magnetar Capital is a global investment firm that works with Satellite to maintain and improve complex internal technology systems, empowering Magnetar’s in-house team to focus on architecture and higher-level decisions
View WebsiteOverview
Magnetar partnered with Satellite in 2020 to help improve and scale its existing technology systems, which it relies on for a range of business-critical purposes in its risk management, investment, analytics and other functions. Over the first 4 years of partnership, the team grew from 3 initial members to 12 members, with expanded responsibilities across the company.
Key Challenges
As a leading investment management firm across multiple asset classes, Magnetar Capital faced a growing tech stack, increasing business complexity and legacy systems. They were interested in way to rapidly scale their IT team while ensuring the utmost security and technical quality.
Complex
Business Logic
High
Compliance Reqs
Legacy
Tech Systems
Solution
Flexible Team Scaling
Satellite provided a dedicated software development team that was able to quickly grow to meet Magnetar’s changing business requirements, growing from 3 -> 12 team members over the course of a multi-year partnership between the businesses.
Agile Approach
The Magnetar-Satellite team embraced a “crawl-walk-run” approach to ensure that the core requirements of security and quality were always met. We worked collaboratively and consistently to build the right team with the right processes.
Shifted Hours & English Skills
Satellite provided a dedicated software development team with more team members at a total lower cost than existing resources, allowing better pricing to customers, improving the speed of development and enhancing product delivery.
Technical Stack
Satellite works across a number of Magnetar systems, with Python and C# (.NET) being the primary coding languages. Our primary databases for the work are SQL-based, hosting is on Azure and we leverage PowerBI to assist with analytics and reporting.
Results
Satellite successfully delivered a large refactoring effort (VBA -> Python), increased application performance and speed, implemented new features and continues to play an important role as part of Magnetar’s extended technology organization.
4+
Years working together
12
Satellite team members
50%+
Processing speed improvement
3
Major workstreams
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