Front-office workflow challenges are too complex to solve with a binary choice. Select from our suite of fixed income trading solutions to start, then leverage our extensible Toc platform to build a system to your exact requirements integrating in-house, Broadway, and third-party systems, collaborating with our expert team at every step.
Our fixed income trading solutions run the gamut in terms of functionality, but some performance characteristics are present in nearly all of them. These represent the underlying approach that makes our tools so powerful, both individually and especially together.
Money markets, including deposits and commercial paper
Aggregate liquidity and optimize execution across all supported assets and products. Leverage our award-winning smart order router and composable advanced execution algorithms.
Connect to electronic trading venues across all assets, including full-depth order books and normalized market data and order handling semantics
Configurable market-watching rules, rebalancing, prioritization, and more
Multi-legged spreader, duration/basket trader, and internal matching engine
Dynamic algo parameter configuration, fully composable strategies, and normalized API for integrating custom algos
Create virtual markets that define relationships between multiple legs, which can be priced and executed against as if the relationship were a single instrument
Access a full range of intrafirm response workflows and connect with clients and counterparties.
Low-latency gateways to all D2C venues and integrated FIX gateway for direct client access
Supports RFQ, RFS, ESP, last look, portfolio execution, fixing, request for market, trade at close, PIT/PAT and Hikene
Adjust pricing and spreads manually or via automated models. Dynamic rules leverage characteristics of request, customer, market conditions, and more
Rules-driven internalization into multiple books and automated hedging for principal and agency trading, including aggregated metrics
Handle all aspects of core price generation, from rules-driven configuration to model integration.
Connect with key market data sources and essential distribution channels without delay
Incorporates multiple benchmarks, yield change on day, minimum and maximum spread, composite feed, and more
Seamlessly incorporate prices into proprietary and third-party quantitative curve or other models
Real-time price adjustment manually from Broadway trading screens or automatically using models
Manage voice and electronic inquiries via an intuitive, fully integrated process.
Efficient RFQ/RFS handling and submission tools facilitating smooth interaction with trading desks and customers
Centralized, audited, and flexible rules-based sales commission calculation
Take comprehensive control over all aspects of exposure, credit and limits.
Universal real-time risk and counterparty credit management from a single screen
Real-time control of exposure, credit, and limits. View trade, position, and P&L data in real time and at any granularity
Extensible risk checks and intervention (pre-trade, post-trade, portfolio, regulatory, fat-finger/price collar)
Configurable limits and margins enable any mix of requirements and different rules
Achieve straight-through processing, regardless of booking complexity or regulatory requirements.
Real-time global oversight of trades, instruments, accounts, and counterparties
Configurable straight-through processing enables any mix of requirements and rules
Seamless real-time connectivity to external venues for trade processing
User-friendly GUI enable easy human oversight and intervention
Deliver a fully customized single-dealer platform to your clients while maintaining brand identity.
“Skinnable” trading GUI with configurable capabilities and content
Direct FIX connectivity to clients
Branded trading and algos supporting both principal and agency execution
Integration with ecommerce and sales tools and able to scale horizontally to accommodate unlimited volume
Normalize, integrate, and control data originating from any number of in-house or third-party systems.
Includes global trade, order and quote repository, counterparty database, and security master for all assets
Real-time surveillance, analytics, reporting, and alerting, all configurable and rules-based
Cross-asset regulatory and compliance tools
Access data and activity on demand, in real time, and in any granularity, and take dynamic views of all trading activity
Utilize an extensive suite of tools for real-time quantitative research and performance analysis.
Drill-down real-time analytics across all trading activities and counterparty interactions
Liquidity provider performance analysis and customer performance analysis
Execution analysis, algo and market analysis (including third-party), expectation analysis, tick capture, and historical replay
Cassandra and kdb integration for Big Data. The Toc enables easy expansion and complete API access to all data and capabilities
Gain unparalleled visibility into industry-specific compliance activities across the enterprise.
Real-time surveillance, analytics, reporting, and alerting, all configurable and rules-based
Support for MiFID II-compliant technical testing
Fully configurable halts and tripwires to stop potential manipulation
Timestamped audit trail of all activity and data
Leverage our collaborative expertise to create a bespoke solution that meets your exact needs. We offer a range of professional services to help clients reach their goals. In addition to designing and implementing custom fixed income trading solutions, we can also collaborate or train IT groups so that all development remains in house.
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