UK-based technology provider genesis has launched a new solution for the automation of trading workflows for fixed income desks.
The Automated Quote System (AQS) is designed to automate manual workflow processes, where quotes, orders and trades are currently processed using a number of external trading platforms.
Despite the ongoing electronificaiton of fixed income trading, prevailing use of request for quote (RFQ) systems means that traders are often focused on fulfilling workflow obligations, as well as increasing regulatory compliance, instead of alpha generation.
“There is no doubt that fixed income is undergoing substantial change driven by regulation and the electronic trading that we have witnessed in equity and foreign exchange markets,” commented co-founder and chief executive officer at genesis, Stephen Murphy.
“We are very excited to be launching AQS, not just in response to the industry and regulatory requirements, but to empower trading desks to maximise opportunities and streamline costs by providing end-to-end electronic workflow capture and management from the front-office to post-trade, that is all fully compliant and auditable. ”
genesis was established in 2015 by former HSBC executives Murphy and James Harrison, the vendor’s chief operating officer, and raised $3 million from venture capital firm Illuminate Financial and New York venture group Tribeca Angels in a Series A funding round.