Fixed-income system for managing pre-trade activity
View Patent ↗Methods and apparatus, including computer program products, for managing pre-trade activity. In general, a distribution of information about what traders and customers want to do may be known. Users may be made aware of trade ideas that can be proposed to a trading desk's buy-side clients. Relevant information on the trading desk may be brought together, and the information may be processed through a set of rules that extract trading opportunities. On the buy side, trade ideas may be extracted without having to have the intervention of a sell-side salesforce.
1. A computer-implemented method comprising:
receiving data characterizing an indication of consummation of a trade of a bond from an emissary of a server application;
determining an interest of a customer to perform a second trade of a second bond related to the bond and based at least in part on the indication of the consummation and portfolio positions of the customer;
generating a notification to a client application of a client tier, wherein the notification is indicative of the interest;
receiving a request to generate an axe indicating a desire of the customer to buy or sell the second bond according to a set of criteria;
receiving data characterizing a request to publish the axe from the emissary; and
sending data characterizing an axe match, the axe match representing the intersection of the customer's axe with another customer's holdings or expressed interest.
2. The method of claim 1 further comprising a server causing the axe to be published.
3. The method of claim 1 further comprising prioritizing the axe at a level lower than an order to consummate a trade.
4. The method of claim 1 further comprising receiving from another client application data characterizing an inquiry for a bond matching the criteria and generating the axe match in response to the inquiry.
5. A computer program product, tangibly embodied on a computer-readable medium, the product comprising instructions to cause a data processing apparatus to perform operations comprising:
receiving data characterizing an indication of consummation of a trade of a bond from an emissary of a server application;
determining an interest of a customer to perform a second trade of a second bond related to the bond and based at least in part on the indication of the consummation of the trade and portfolio positions of the customer;
generating a notification to a client application of a client tier, wherein the notification is indicative of the interest;
receiving a request to generate an axe indicating a desire of the customer to buy or sell the second bond according to a set of criteria;
receiving data characterizing a request to publish the axe from the emissary; and sending data characterizing an axe match, the axe match representing the intersection of the customer's axe with another customer's holdings or expressed interest.
6. The product of claim 5 , wherein the operations further comprise a server causing the axe to be published.
7. The product of claim 5 , wherein the operations further comprise prioritizing the axe at a level lower than an order to consummate a trade.
8. The product of claim 5 , wherein the operations further comprise receiving from another client application data characterizing an inquiry for a bond matching the criteria and generating the match in response to the inquiry.
9. The method of claim 2 , wherein the axe is published as a tiered offering, wherein the axe varies in price based upon the entity to which the axe is published.
10. The method of claim 1 , wherein the notification indicates the interest of the customer in performing multiple trades.
11. The method of claim 1 , wherein the set of criteria does not include price.
12. A computer-implemented method comprising:
receiving data indicating a consummation of a trade of a first bond;
processing the data utilizing a processor, wherein the processing is with respect to historical data associated with a customer to identify trading ideas for the customer,
wherein the historical data comprises positions of the customer;
presenting the trading ideas to a user;
identifying a suggested trading idea selected from the trading ideas relevant to the customer, where the step of identifying is the intersection of a set of criteria with historical data;
generating an axe in response to an indication of a desire of the customer to buy or sell a second bond according to the set of criteria; and
performing an axe match between the axe and another customer's holdings or expressed interest.
13. The computer-implemented method of claim 12 , the historical data comprising trade history of the customer and inquiries of the customer.
14. The computer-implemented method of claim 13 , the historical data further comprising market history and market events.
15. The computer-implemented method of claim 12 , wherein generating the axe includes offering the axe at multiple prices.
16. The computer-implemented method of claim 12 , where the historical data comprises the data indicating consummation of the trade of the first bond.
17. The computer-implemented method of claim 12 , further comprising:
matching an inquiry expressing an indication of interest to buy or sell a bond against the axe.