Mostly… fixed income and cross product eTrading

November 25, 2008

Behavioural/Operational Data

Filed under: etrading, Nuts and Bolts, STP — holky @ 6:11 am

As quoted here

UK credit card issuers have agreed a framework for sharing ‘behavioural data’ on their customers’ accounts as part of an initiative to meet political demands for responsible lending practices.

Is anyone yet extending this sort of analysis onto operational flows – to record and use the institutional behavioural data (STP rates, blame attributed fails, etc) in establishing a true(r) transactional cost of trading with the client in question for the product in question? …. then using that contextual info as one of the inputs to their pricing engine / SOR ?

November 10, 2008

Get Those Humans Back!

Filed under: 2015, etrading, Nuts and Bolts — holky @ 6:28 pm

EFN tells us that humans are back in vogue…

Wild swings in global stock markets and unprecedented volatility are luring buyside and sellside traders back to the personal touch broking model, where they can find an experienced broker on the end of the phone. Electronic trading remains a high priority, but the human element may be the key to brokers gaining business.

Do you think this is indicative that e-trading technology still isn’t “good enough” to merit the trust of the customers wishing to trade? In which case what function is missing? Based on that article, it’s some sort of reassurance screen/popup; “yes that looks like a very sound trade, pretty much in-keeping with what were seeing, so please click OK to invest wisely”. Ok, that’s an exaggerated thought, but surely a colour/context check could be part of an automated negotiation/orderflow?

November 3, 2008

Tradeweb Changing Shape

Filed under: 2015, etrading — holky @ 8:57 pm

Tradeweb’s vision – where markets meet;

To be the first network to offer insitutional clients trading from ONE platform, with ONE ticket, in ANY asset class, in ANY currency, anywhere in the world.

A great aim – but clearly not enough to keep them busy. Today we hear that Tradeweb also plans to launch an electronic inter-dealer platform (for pass-through mortgage-backed securities in early 2009 ..as part of their purchase of Hilliard Farber’s interdealer business). I wonder how much appetite (within TW & the dealer shareholders) there is to extend the interdealer product set?

Well, even though Tradeweb clearly has many irons in many fires, and shipping (/cargo) is something ICAP have mentioned with a degree of excitement, I don’t think this Tradeweb trademarked product will actually be related (odd about the trademark though) …

Tradeweb ™ streamlines the cargo declaration process by enabling users to send declarations to the Singapore Customs, IE Singapore, and other controlling agencies directly from the computer

…unless you know different?

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