Remember being so proud of your little one for fitting the square peg into the square hole? The kid’s a genius, everyone said. Grown-up work is not that different. You have tasks to perform and tools to get the job done. The main difference, other than more gray hair, is that your tasks vary widely now and kind of a lot rides on successful performance; kids grow up, after all.
Credit risk transfer is a heady business. Liquidity is fragmented and can be scarce. There are so many Cusips to deal with. There are so many trading counterparties to deal with. There is a constant stream of new pitches coming at you. Everyone wants your business, yet it takes longer to get trades done. Some trades are small, and some are big. Some are liquid issues, and some never trade. Some inquiries get no responses, and some a plethora of responses. At times it may feel like you’re trying to fit a square peg into a round hole, a square hole and a triangular hole. You need more pegs -- more tools.
The buy-side EMS for credit trading gives you more tools, aggregated liquidity, and all your trading counterparties on one screen.
Why use RFQ on small lots when you know you’ll get tepid response and it just eats up your day? The buy-side EMS allows you to click to trade on live prices from your dealers or any number of electronic venues, and even color codes the field to show where available liquidity meets your size. That gets lots of line items done right away.
Enabling Platforms For Fast Markets (
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2 Comments to "Fitting a Square Peg in a Round Hole: Adding Trading Functions to RFQs in Credit Trading":
Anonymous
12 February 2013
Trouble is there are any great EMS's for this type of bond trading
stusanderson
12 February 2013
But there is a buyside EMS for credit trading now. Click on the banner add for Creditstation on the Tabb Forum page or go to www.interdealer.com.
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