Fixed Income Trading

Our trading products are designed for global institutions and offer the most comprehensive range of pre-deal decision-support pricing analytics, trade capture tools, and position monitoring and risk management functionality. Built on the industry's most advanced technology infrastructure, with unprecedented flexibility, our solutions are delivered faster than traditional packaged applications.

MGL Finance Fixed Income Trader™ provides full functionality for a trader to price, trade, and track debt and derivatives positions and risk in voice and electronic markets in Europe, North America, and Japan. MGL Finance Fixed Income Trader addresses the complete range of fixed income instruments and derivatives, including interest rate instruments, credit instruments, high-yield instruments, mortgages, and structured products.

MGL Finance Fixed Income Trader includes full fixed income trading functionality to support all aspects of the trade life cycle, including trade initiation, position management through system static maintenance functionality. It encompasses a suite of pre-deal decision-support pricing analytics, sophisticated trade capture tools, comprehensive position management, and risk analytics with integrated quote management. MGL Finance Fixed Income Trader provides ECN connectivity across multiple markets enabling the trader to monitor and trade across multiple markets from one interface.

Features and Functionality

MGL Finance Fixed Income Trader provides full functionality for a trader to price, trade, and track debt and derivatives positions and risk in voice and electronic markets in Europe, North America, and Japan.

Pricing

The system prices bonds using several forms of matrix pricing. A full set of pricing methods (~25 methods), curve facilities (treasury curves, swap curves, repo curves, et cetera), futures facilities and analytics are provided, as well as the appropriate pricing workflow. Several price distribution methods are supported, including Bloomberg and Reuters.

Quote Management

Cross-ECN virtual market functionality is designed to optimize trader operation, with full drill down to the appropriate market and integrated aggressive order management. The system provides comprehensive spread management support. Rules based RFQ management supports both auto and non-auto quoting, trading, and hedging with flexible customer tiering.

Connectivity

The system provides infrastructure and allows for operation across multiple electronic markets, whether Inter-Dealer Broker (IDB) or Business-to- Customer (B2C). The product integrates with any market gateway product, including rapid integration with appropriate market data, static data, and trade feeds.

Trading

The system provides trade capture for all supported instruments. Optimized trade capture forms allow full trade details to be collected efficiently. In addition, users can create their own forms. Additionally, quick trade, partial trade, and hypothetical trade facilities are provided.

Support for a number of trade types is provided: cash, borrow/Lend (Taishaku), Repo, Gensaki, position adjustments, pair-off trades, et cetera.

Trade blotters with full drill down capability are provided, along with other trading tools and calculators. A number of special purpose calculators support trading activity.

Position Management & Risk

Tools that allow the trader to measure and manage positions, P&L, and risk in real-time are provided, as well as facilities such as hedge and forward calculators. Position blotters include full drill-down capability.

Maintenance

• Maintain instrument data
• Maintain pricing universe
• Maintain pricing sheets (several "styles" of pricing sheets supported)
• Maintain users and user groups
• Maintain books, accounts, and counter-parties
• Maintain commission schedules
• Maintain calendars

Instrument Coverage

The system has wide instrument coverage:

• North America: treasuries, agencies, corporates
• UK, Continental Europe, and Scandinavia: government bonds, corporates
• Japan: JGBs, TBs/FBs, special bonds/municipal bonds, corporates, bank debentures, Samurai bonds, Euro-yen bonds
• Australia, New Zealand: government bonds, corporates
• General: interest rate futures, bond futures
• Special: named instruments, hypothetical instruments

The Configurable Solutions Advantage

Because our solutions are built using our component-based development platform, they are inherently flexible and scalable – our applications allow our customers to leverage maximum functionality, while working in a manner that is perfectly suited to their businesses.

Our applications adapt to our customers – not the other way around. Our customers work and generate profits in their preferred and proven ways using MGL Configurable Products.

 

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