Etrading and Artis launch loan market automation system LABS

Etrading Software and Artis Holdings announced the launch of the partners’ new loan technology for automation and in the loan market, where voice trading and spreadsheets currently dominate. The new LABS system automates and streamlines aspects of the sales and trading process.

In its current version, the aim of the system is to provide an aggregated database of client and trader positioning from disparate data points across the user’s firm, in-house trading systems, including spreadsheets and 3rd party data – such as Refinitiv’s LPC Collateral – to automatically facilitate the most efficient client targeting by the trading and sales teams. The London Stock Exchange Group (LSEG) completed its acquisition of Refinitiv earlier this year.

In the second quarter of 2021, Etrading Software and Artis Holdings will release the WIC (Wanted in Competition) system. The WIC system is a portfolio trading tool that brings efficiencies by reducing BWIC (Bids Wanted in Competition) execution time, by automating and streamlining aspects of the trading process and linking buy-side, dealers and originators of WICs via their existing systems and desktop.

Specifically, it makes technological enhancements to the BWIC/OWIC (Offers Wanted in Competition) workflow, for example semi-automating the administration and data sharing, whilst respecting the current Dealer/Client information & value chain.

The new system also creates a robust infrastructure for participating in WICs, whilst preserving the market accepted DNA of the WIC process. This significantly reduces operational risks for all parties involved and provides automated internal and external compliance reporting. The tool also enables management to understand flows in real-time and will provide a valuable source of data often lost through the existing manual processes.

Mike Lavin, head of Capital Markets Insight at LSEG, said, “LSEG is committed to driving transparency and efficiency in the capital markets. Enabling clients to use our tools and content in new ways, such as accessing our specialized LPC loan and CLO data within Artis’s Loan Technology, is a great example of this.”

Grant Wilson, managing partner of Etrading Software, said, “Currently, interactions in the loan market are almost entirely manual and voice-based. There is a real need to address these inefficiencies through an innovative technology solution, capable of seamlessly integrating and augmenting existing workflows from primary issuance, through the secondary market, and ultimately to settlement.”


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