In a relatively short period of time, the industry has achieved through mandated regulation the previously thought impossible – electronically recording all voice price queries. New desktop tools deployed to digitise these voice workflows not only help with regulatory compliance, they can also help you capture and therefore analyse flow in a similar way to what is possible via electronic venues. Where client service for example hit rates or quoting performance could be measured effectively on eTrading venues, the same is now true for voice executions.
A number of technologies have also launched to optimize workflows, aiming to introduce shared request-for-quote platforms with minimal dual entry. Symphony, OpenFin, Finsemble, FDC3* and ipushpull, to name a few, can be leveraged to help buy-side investors and dealers build workflow to assist with regulatory controls without compromising on service or efficiency. We have partnerships with several of these providers to ensure clients have the full pricing data visibility they need as quickly and easily as possible in a way that can be integrated with our clients’ desktop tools.
An example here, where NatWest Markets have partnered with iPushPull, the previously manual process of copy and pasting axes into a chat room has been replaced by a model where axes can be pushed or even streamed real-time to clients via excel plug-ins, a symphony chat or any one of a number of other endpoints at low effort. The salesperson task in this workflow is to understand the client need and make axes relevant, the mundane and inefficient task of manually keeping the axes up to date in a chat context is removed. Aside from the inefficiency removed from the process, ultimately, the client benefits from better client service and more real time availability of data.
*Financial Desktop Connectivity and Collaboration Consortium