Solution

Ready for the next level?

The existing systems of sell-side/market making participants for FX and Equity Options pricing primarily provide to their sales/traders capabilities to quote clients on a single-request basis. Namely, the client may contact sales/traders via call, chat, or via a Single-Dealer Platform exposed by the bank or a third party. However, this approach is subject to several drawbacks:

  • Sales/Traders are enabled to quote/monitor a single financial derivate trading request at a time.
  • Quotes provided are based on a ‘single snapshot’ of market data and not refreshed as the underlying instrument price and volatility changes (for example, option price is highly sensitive to the value of the underlying and should ideally be repriced with every tick of the underlying).
  • In addition, the market requirement for quote refreshing frequency has increased to a sub-second.


This is where we come in to help!

The main value that itoTrader brings to the market is real-time pricing and workflow management of financial derivates that enables sales/traders to simultaneously quote a number of clients across many Single-Dealer and Multi-Dealer Platforms.

itoTrader is built by the team having both business and technical domain expertise on the eRFQ process, real-time workflow and reporting requirements faced by the sell-side banks.

itoTrader provides performance and insight into the quoting process that is well beyond the state-of-the-art.

The core architecture of the system is set to enable real-time quoting and execution of almost any type of financial derivatives traded via eRFQ platforms. At the moment, single and multi leg FX and Equity vanilla options are fully supported.

Ongoing Release Management

As part of our testing efforts, we simulate system instances via testing automation tools to optimize the release validation, as the testing requires high time efficiency due to large number of real-time scenarios that have to be verified in each release.

itoTrader primary aim is to connect sell-side banks on one side and market takers using Multi-Dealer Platforms on another side. Here, the liquidity providers keep a full discretion over choosing their primary, secondary and tertiary market data providers, which are serving the data required in the quoting and hedge execution process.

itoTrader offers:

  • Customizable system architecture accommodating complex e-trading workflows
  • Low-latency multi-threaded processing
  • Hosting on cloud and on-premises servers
  • Platform independent solution (Windows and Linux)

What itoTrader offers to clients on a regular basis

Sales

Flawless RFQ Entry and Indicative Pricing
Real-Time Spot Aggregation
Multiple Scalable Markup Rules
Live vs Hedged Dealing
Tradable Pricing and Execution

Trading

Full e-Trading Product Coverage
Dealer Quote Intervention
Workflow Control based on Dealing Rules

Risk Monitoring & Management

Client Whitelisting & Live Pre-Deal Credit Checks
Live Stand-Alone & Cumulative Limit Checks
Auto-Hedging Rules & Execution

Real Time Reporting & Booking

Sales Trader Workflow (STW) reporting compliant with the latest MiFID II requirements
Straight Through Processing (STP)

User Access Control & Audit

Comprehensive User Access Management across all system modules (per user role: Sales,Traders, Administrators, Support, Compliance)
Extensive logging providing rich audit and workflow tracking information

Depending on client needs, itoTrader can also support, among other:

Pre-Deal Credit
Checking integrated
with the eQuoting process

Advanced
real-time risk aggregation
and monitoring

Custom
reports and
data analytics