Today's OTC Trading Platforms:

 

Expensive

 
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  • Do not measure or minimize transaction costs

  • Lengthy, multi-year deployments with high failure rates

  • Require a large team to maintain

 

Risky

 
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  • Shoehorn OTC assets into equity-centric systems, causing compliance issues
     
  • Cannot value OTC instruments, leaving managers with an incomplete picture of risk and inaccurate positioning
     
  • Require 'special tools' (typically Excel), human intervention, and cumbersome reconciliations to handle trade lifecycles

Inflexible

 
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  • Take years of development to add asset classes or functions

  • Cannot support new regulation, trading styles, or workflows without months of development

  • Require long-term projects to add new sources of liquidity or alter execution strategies
 

Incomplete

 
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  • Few asset classes and products supported
     
  • Basic liquidity aggregation without valuation; not a trading system but a trade capturing system
     
  • Only address small segments of the trading pipeline, rather than full end-to-end solutions