genesis launches Automated Quoting System for fixed income trading

Software company genesis announced it’s launched AQS, which automates internal workflows between the trading desk, institutional clients, asset managers and wealth managers.

As the market continues to go electronic, trading desks often rely on legacy workflows; quotes, orders and trades are processed using a multitude of external trading platforms. The process for organizing and responding to fixed income requests for quotes (RFQs) mean that alpha generating opportunities are missed.

The number of fixed income execution venues are increasing, and traders are unable to take advantage of the bigger marketplace because they are only able to respond to RFQs through the user-interface provided by their trading platform. This means that sell-side traders have to interact with an overwhelming number of platforms. On the buy-side meanwhile, the adoption of electronic trading has caused an increase in the number of RFQ enquiries. Sell-side traders receive multiple RFQs every minute throughout the trading day.

genesis’ AQS has been deployed at one of the world’s largest broker-dealers (not disclosed) for pricing and workflow management which is fully auditable from a compliance perspective. Institutional sales desks, asset managers and wealth managers automate requests for quotes to the trading desk for fixed income. The trading desk automatically receives and prices the quotes based on live market data, business intelligence, current positions, risk limits, client settings and trader settings.

AQS also enables the automation of inventory distribution, highlighting trading positions and how much to make available. The solution can support multiple asset classes including equities, funds and certificates of deposit, but there is increasing demand in fixed income to automate internal workflows and integrate with external quoting platforms.

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