Trading technology

The “Third Wave” of trading technology for Fixed Income traders

For today’s Fixed Income traders it can feel like you are under the weight of a regulatory tsunami. The extreme pressure to comply with the endless waves of new regulations and to determine how to best transition your workflow and still achieve best execution smoothly, presents a challenge to say the least. However, amongst this background there is good news. The problem isn’t you, it’s your technology. It needs an immediate upgrade.

If this is the third wave, what were waves one and two and why is TS so relevant to the third wave in Fixed Income?

Since 2000, the financial industry has experienced two distinct waves within the electronic trading world. 18 years ago, before the world of EMS had even been conceptualized, Equity trade executions were done over the phone or through broker platforms like CS PrimeTrade, Lehman Live, Barclays Barx, Deutsche Bank Autobahn, et al. TS launched TradeSmart EMS to simplify the connectivity and normalize the workflow by funneling all of these venues into one screen for equity buy-sides. One screen, one connection and one workflow for all venues.

The next wave occurred as TradingScreen (TS) integrated FX into the TradeSmart EMS platform. At the time, trading FX was an arduous process that required phone calls with each specific bank. The banks then created their own systems requiring 5-10 different logins for each buy-side trader. Once again, TS adapted the highly successful Global EMS model for the FX trader. One screen, one connection and one workflow for all venues. Today’s FX platform has 30 banks, using 200+ FIX connections to TS clients around the globe.

So what is the third wave? It is a solution to address the regulation tsunami currently underway for fixed income traders. The problem is remarkably similar to waves one and two, so is the solution, TS FI EMS. One screen, one connection and one workflow for all venues.

For Fixed Income traders, non-compliance is not an option, neither is implementation and deployment risk. Deploying proven technology will ensure your business is continuous, compliance ready and enters 2018 ahead of the game.

Specifically for Fixed Income, transparency and uniform access to data will be the principal outcome of MiFID II, much as it was with TRACE. Lowering the cost of access to that data is essential for firms who want to treat MiFID II as an opportunity, not a challenge.

At TS, for Fixed Income we have simplified access to this data because we built the connectivity in waves one and two where we were instrumental in FIX protocol adoption from the start.

Our “techsperts” continue to anticipate market shifts and create solution-based technology to meet the needs of today’s and tomorrow’s workflow challenges. We work hard and effectively to ensure traders have smart, proven and cost-effective technology to support today’s workflow in an ever more complex environment.

We want you to benefit from the TS expertise and solutions from waves one and two. TS is most likely already connected to either your firm, its’ OMS or both in other asset classes. The cost of adding Fixed Income is consequently reduced as is the implementation and deployment risk.

  • Joe Ahearn

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