Fixed Income Multi Asset Trade STP

Fixed Income Multi Asset Trade STP

with eConnect Micro Data Service Platform


Introduction

Our client, an international investment bank actively trades a number different OTC products through global markets and brokers.

The products include single and multi leg instruments & derivatives, trade confirmations of these products need to be booked into local and cross regional booking and P&L systems.

The venues and brokers provide a range of disparate mechanisms to electronically report trade confirmations. The bank must interface to all of these, yet ensure they have a reliable and scalable system to accurately capture the banks risk position and be able to on-board new products and venues in a timely manner.

The Problem
  • Trade booking can be delayed for hours due to missing reference or mapping data, preventing visibility of an accurate risk position
  • Adding new markets or products, requires time consuming development, test and release cycles, to produce a new process
  • No ability to store trades from all markets to the banks global trade store without changing every STP process
  • Process start and restart times have become lengthy due to slow database initialisation
  • No secondary or DR instances are deployed leaving the bank exposed to outages without clear visibility of its risk position
  • Existing solution is formed of 25+ individual processes each with it’s own code base and no common core libraries
The Solution – eConnect Platform
  • Build real time risk and trade booking blotters based on readily available platform data for an immediate risk view
  • Add new products dynamically via admin GUI’s taking advantage of the platform dynamic data discovery
  • Add new markets, destinations or assets by adding new components to the platform in isolation to other running services
  • Store multi-market trades, with update history to the banks global trade store, using the platforms built in data storage technology
  • Reduce risk of outages using the platforms ability to be globally distributed and automatically fail over to secondary processes
  • Consolidate code by basing on eConnect Core and platform APIs, only requiring asset, source or destination specific additions
Trade Processors

Build asset & region specific Trade Processors to dynamically aggregate raw trade data, before enriching & normalising

Trade Store

Utilise the platform Data Store to persist trades, without any extra effort

STP Mapping Data Store

Utilise the platform Data Store to hold common STP mapping & enrichment data

Add New Trade Destination

Add new trade destinations e.g. Risk or booking systems, simply by adding a new destination adapter that aggregates global trade data targeted to that destination

High level architecture of an STP Trade booking system running on the eConnect platform, a number of “out of the box” features allow it to: scale globally for multiple assets & regions, use platform trade store to persist any data on the platform, reduce operation risk by distributing the components, run redundant pairs with automatic failover, capture trade event information with micro second accuracy.

 

Case Study - Fixed Income Multi Asset STP

Add New Trade Sources

Add a new market for an existing asset type by simply adding a new Trade Source Adapter to the platform

Trade Booking Blotter

Monitor real time trade booking status with HTML GUI’s based on our

platforms JavaScript API

Banks Monitoring Systems

Connect banks monitoring systems direct to the platform with Java, JavaScript API’s or JMX