Solution

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