Fixed Income Algorithmic Pricing & Execution

• Situation: Broker Targets New Asset Class for Growth
  • Broker identified fixed income as a market it had unique assets and capabilities to capitalize upon.

• Problem: Existing Technology Antiquated
  • The firms’ existing FI auto quote system was slow, short on function, and traders had no confidence, so they typically shut it off – quoting was 95% manual.

• Solution: New Algorithmic Pricing and Execution System
  • New team brought in to modernize and leapfrog the competition through innovative algorithmic quoting and execution technology. A team was hired, they selected StreamBase, and deployed version 1 in just 4 months.

• Impact: Fill Rates Jump from 5% to 35%
  • In just 6 months of development, and 6 months of deployment, the firm goes from 5% auto quoting fills to 35%, attracting more flow and setting a reputation as the fastest broker on the street (via Tradeweb)