ECN market aggregation gateways
In the fixed income world, there are three barriers to efficient trading:
- How do you get the best price?
- How do you find a liquidity pool?
- How do you capture the trade, once completed?
Because of the fragmented market in fixed income, multiple exchanges have come to exist, and trading efficiently across them is a problem. Each exchange has its own front-end application for viewing prices and executing orders, and has its own protocols and APIs for sending and receiving data. Many traders now have to cope with managing four or more front-end applications on their desktops, each showing the same instruments but none of them connected in any way, and each with their own user interface and way of working. In addition, once a trade has been made, it’s vital to capture its details accurately and in real time, to update internal position-keeping and risk systems. The lack of standards across exchanges makes this, too, a costly and difficult exercise.
We have a range of industry-proven solutions to ease these problems. Our software removes the burden of interacting with each individual exchange. Your users enter information in one place only, either from our own, single, easy-to-use interface, or via your own in-house trading system. Our software takes care of all the different data formats and protocols. It manages storing and forwarding of confirmed trades, and distributes prices to multiple exchanges and information vendors.
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