Solutions
Pre-Trade
- Real-time position, PnL, and risk of portfolios; slice and dice by any risk dimensions
- Discretionary portfolio mgmt (rebalance and manipulate exposure)
- Single-click for secondary trade generation (repo, rolls, hedges and unwinds)
- Trade Optimization: netting, aggregation, scheduling and packaging of exposures
Execution
- Aggregate all liquidity (RFQ, API, streaming)
- No, low, & high touch trading in a single blotter. Pre-built Algos, leverage your brokers or build your own
- Fair valuations, indicative prices, built-in TCA
- Native support for multi-leg strategies
Post-Trade
- Matching, settlement and clearing in a single window
- Real-time IBOR (positions, PnL, cash, NAV)
- Full control over cancel/corrects, amends straight from the GUI
- Export/import to accounting and back-office systems, recon
By Asset Class
Swaps
Interest rate, Credit, total return swaps and their derivatives
IR Swaps
Par, MAC,SOFR IMM, FWD STARTING, X-CCY, OIS
CREDIT Swaps
CDS,CDX
Total Return Swaps
Commodity, Index, Bond, Swaptions, Caps/Floors,YC Options
Handle Complex Assets with Ease
- Multi-leg packages native to platform. Execute, allocate and cancel/correct the packages as a unit (Rolls, Yield Curve, Butterfly, Compression, Straddles, Invoice Swap)
- Automatically send and capture responses for RFQ
- Auto breakdown of Cost/PV to legs for package, considering risk of legs and other fairness aspects
- Hassle free post-trade affirm, reporting, cancel/correct and export to PB/Back Office
Trading Decision Support
- Time-of-Trade TCA
- Fair valuation, dealer mark-up estimate, infer pricing/signals from related markets
- Dealer scorecards – See dealer performance while working the trade, including all historic quotes/trades/indicatives with useful statistics
- Single Click to external venues and market data platforms including chat & quotes
Single Blotter for Everything
- No, Low, High touch trading in a single blotter
- Trade electronically or over voice/chat
- Connectivity to SEFs & other platforms
- Consolidated liquidity with streaming price quotes, RFQ, indictive quotes all in one order-book
FX
Spots, Forwards,
Swaps, NDF, Options
Better Aggregation of Liquidity
- Customized streams in a single blotter
- Our business model – we don’t take money from the sell side so there is no conflict of interest
- FX hedger that can be run in an automatic mode or can be manually invoked
Smarter Algos
- Smart order router – Buckets liquidity and understands rules of engagement
- Customized algos that understand Rules of Engagement (ex. Min time TWAP)
- Use our pre-built algos, leverage your brokers’, or drop in your own in an easy to use interface
Embedded TCA for Best Execution
- Last looks, dealer penalty box, cancel tracking
- Mini-Dealer Scorecard – A tool that helps a trader pick the right dealer set for the order (based on calculated statistics)
- Full Dealer Scorecard – A tool with all the quotes and trades data with ‘mark outs’ to drill into and visually see the patterns and understand the market and dealer behavior in response to market events and trading activity
Fixed Income
Govt, Agency, EMD, IL, Corp, Converts, TBA
Reduce Regulatory and Operational Risk
- Multi-dealer, two-way quote capture
- Digitization of voice trading
Access to All Liquidity
- Dealer runs, electronic venues, and voice in a single order book
- No, Low, High touch trading in a single blotter
Trading Decision Support
- Pre-, During-, and Post-execution analytics
- Single Click to external venues and market data platforms including chat & quotes
LISTED
Equity, Pairs/Basket, Futures, Futs/ EQ/Index Options, ETF
Consolidated Blotter Across All Liquidity Streams
- Customized streams in a single blotter
- Built-in automation & algos, including an auto-hedger to generate hedges given defined parameters
Custom Indexes
- Create and manage custom indexes, baskets, and blended benchmarks directly in the platform
- Target specific desired exposures in delta space or even implied vol
Trade Through Underlying
- Support for trading baskets or underlying securities to target custom indices
- Flexibility to choose between the futures, ETF or swap based on cost at the time of trade
By Function
Portfolio Management
Real-Time Reports and Views
- Attribution of portfolios by position, PnL, and risk
- Slice and dice portfolios by any risk dimension
- Data-driven decision support
Discretionary Portfolio Management
- Single click to rebalance or manipulate exposure
- Pre-trade & time of trade analytics
- Automate price discovery in voice/manually traded markets while minimizing information leakage
Trade Optimization and Support
- Single-click to generate secondary trades such as repo, rolls, hedges and unwinds
- Optimize trades via netting, aggregation, scheduling and packaging of exposures
- Compress the portfolio or unwind/novate a set of positions
Trade Execution
Aggregate All Liquidity
- RFQ, API, streaming – all in one order book
- No, low, and high touch trading in a single blotter
- Digitization of voice trading
Flexible Algos and Analytics
- Use our pre-built algos, leverage your brokers’, or drop in your own in an easy to use interface
- Fair valuations, indicative prices, built-in TCA
- Considers different quoting conventions across venues
Extensive Complex Asset Support
- Native support for all multi-leg strategies & packages
- Properly take market conventions and trading workflows into consideration
- Ability to compete dealers, compare quotes, break-down quotes to legs, and calculate markups
Operations
Single Window for Everything
- Matching, settlement and clearing in a single window
- Full control over cancel/corrects, amends straight from the GUI
- Reconciliation directly within the platform
Real-Time IBOR
- Positions, PnL, cash, NAV
- Real-time and historical positions that are reconciled against the back-office/accounting systems
Easy Integration
- 50+ adapters to interface with middle and back-office systems
- Export/import to accounting and back-office systems
- Real-time, self-validating links to internal & external systems
Compliance
Fund-Level Compliance
- Netting and aggregating trades across funds in a compliant manner
- Highly flexible configurations to define rules at a granular level
Counterparty Compliance
- Ensuring that you can trade with the specified counterparty per the rules you have defined in the system
- Validated throughout entire trading life-cycle, not just once pre-trade
Restricted Securities
- At any level — firm/fund/account/strategy
- Validated throughout the entire trading life-cycle, not just once pre-trade
TCA
Eliminate Regulatory and Fiduciary Risk
- Extensive automation and highly customized workflows
- Rapid turn-around – hosted or deployed
Built-in Regulatory Controls and Reporting
- MiFID, Dodd-Frank, EMIR data and reporting out-of-the-box
- Institutional grade controls
Designed for Complex Fund Structures and Counterparty Restrictions
- Automatically create netted, block orders across 40Act, SMA, ERISA, UCITS, Prop accounts – with consideration for compliance and other factors
- Execute block orders with maximum number of available counterparties as opposed to the lowest common denominator of allowed dealers in other systems
Embedded TCA for Best Execution
- Last looks, dealer penalty box, cancel tracking
- Mini-Dealer Scorecard – A tool that helps a trader pick the right dealer set for the order (based on calculated statistics)
- Full Dealer Scorecard – A tool with all the quotes and trades data with ‘mark outs’ to drill into and visually see the patterns and understand the market and dealer behavior in response to market events and trading activity
POST Trade
Operational Analytics
- Cancel/corrects, amends, affirmations, and confirmations can all be done right within the GUI
Fair Allocation
- Fair allocation algorithms that consider block size, targets, held exposures, counterparty, and other constraints
- Analytics to prove fair allocation to investors and regulators
Shadow Accounting
- Ensure the accuracy of books and records
Connectivity to General Ledger and Other Downstream Systems
- Easily export analytics output, trades, positions, and allocations downstream
Reconciliation
- Smart Recon – Machine learning-based exception handling
By Firm Type
Systematic HEdge Funds
Exposure-Based Trading
- Allows you to take advantage of market events or liquidity
- Dynamic security selection picks the best instrument to represent that exposure
Trade-Optimization, Scheduling and Smart Order Routing
- Most efficiently package the orders (risk-neutral packages, crosses, curves, spot-swap split, etc.)
- Highly differentiated algos
Built with Systematic and Quant Funds in Mind
- PnL, Risk, and Position attribution all the way up to signals and factors
- Handle complex assets & multi-leg strategies in Futures, Options, FI, and FX
DISCRETIONARY HEdge Funds
Single Blotter for Everything
- One place for electronic, algo, and voice/manual trading
- Customized price streams from dealers
- Consolidated liquidity with streaming price quotes, RFQ, indictive quotes all in one order-book
Compliance Across All the Trading Functions
- Dodd-Frank, MiFID-II
- Fund mandates, allowed counterparties, exposure-based limits
Pre and Post Trade Allocation
- Fair allocation algorithms that consider block size, targets, held exposures, counterparty, and other constraints
- Analytics to prove fair allocation to investors and regulators
Asset Managers
Disentangling Trading From Fund Structure
- Automatically create netted, block orders across 40Act, SMA, ERISA, UCITS, Prop accounts – with consideration for compliance and other factors
- Execute block orders with maximum number of available counterparties as opposed to the lowest common denominator of allowed dealers in other systems
- Greatly reduces “friction” between PMs, traders, and ops
Compliance Across all the Trading Functions
- Dodd-Frank, MiFID-II
- Fund mandates, allowed counterparties, exposure-based limits
Pre and Post Trade Allocation
- Fair allocation algorithms that consider block size, targets, held exposures, counterparty, and other constraints
- Analytics to prove fair allocation to investors and regulators