• FixedIncomeAlgoSituation: 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)

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