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New efficiencies for fixed income traders

Alexandre Hardouin
Alexandre Hardouin
Director, Fixed Income Desktop, London Stock Exchange Group

Fixed income traders need to make data-driven decisions at speed. Find out how the integration of valantic’s iQbonds on the Refinitiv Eikon platform benefits workflow efficiency and enhances access to liquidity for bond market #SmarterTrading.

  1. Fixed income traders operate in a highly dynamic ecosystem, where access to targeted, reliable and complete information is crucial.
  2. A new market offering combining Eikon from Refinitiv and iQbonds from valantic is a single solution boosting workflow efficiencies for fixed income traders.
  3. The market making and pricing capabilities of iQbonds are seamlessly integrated into a trader’s workflow using the Refinitiv Side by Side Integration API.

In a data-driven marketplace, information is everywhere, but differentiating valuable data from noise is a different undertaking altogether.

Fixed income traders need access to targeted, reliable and complete information and the assurance that they can trust their data, so that they can concentrate on areas of higher value-add and make informed decisions in the best interests of their clients and their firms.

Finding the signal in the noise has become a significant challenge, because the golden nugget of data that you miss could make the difference between a good decision and a bad one.

Fixed income efficiency

In addition, available data — even trusted data — is often disconnected, feeding-in from multiple external silos. Managing, collating and analyzing volumes of data to build an accurate picture of a trading opportunity can seem daunting.

If traders are to make data-driven decisions at speed, incoming information needs to be seamlessly integrated into existing workflows. Properly filtered data boosts efficiency and irons out inconsistencies, but also enables traders to form a holistic view as quickly as possible.

Moreover, traders are operating in a highly dynamic ecosystem.

Thomas Gangkofner, Refinitiv’s Market Development Manager for Fixed Income Europe, believes macro factors, such as the implementation of MiFID II and the concept of multilateral trading facilities (MTFs), have improved the strength and transparency of financial markets, but have also led to a period of unprecedented change.

Thomas Gangkofner quote

Market making and pricing capabilities

Inspired by this complex and information-hungry backdrop, Refinitiv and valantic entered into a strategic partnership in 2018 to create a powerful new market offering combining two leading-edge solutions — Eikon from Refinitiv and iQbonds from valantic.

Eikon, built on innovative, open platform technology, delivers trusted news, data and analytics, filtered to exact requirements. The platform also connects users to markets and professional networks.

At the same time, valantic’s iQbonds brings to the table market making and pricing capabilities for fixed-income products with connections to electronic markets, exchanges, and information platforms.

The new integrated solution enables full coverage of the fixed income sell-side trader workflow to boost efficiency. Fixed income traders can now answer incoming RFQs at speed and simultaneously ensure that bank and market prices align.

Watch: valantic iQbonds now compatible with Refinitiv

Fixed income data sets

Gangkofner adds: “With ever-increasing volumes of prices being contributed to MTFs, there was a clear market need for a single solution to allow traders to contribute and compare prices in an efficient and holistic manner.

“Spreads are becoming tighter and traders need to secure the best possible price and ensure quick execution. They don’t have the luxury of time to manually cut, paste and compare.

“Eikon offers traders the ability to view prices from different MTFs (Tradeweb, Market Axess) and MiFID II reported data at the same time and this exclusive data set is unique in the fixed income market.”

Jens Lippoldt, division manager for valantic’s sales and business development, agrees: “Together, Eikon and iQbonds deliver an unrivaled combination of trusted data and connectivity straight to the trader’s desk.”

Moreover, iQbonds seamlessly integrates into trading workflow via Eikon’s Side by Side Integration API.

Connecting desktop apps

Fixed income traders rely on a multitude of different apps every day, but inconsistencies can creep in when each app operates in isolation. Workflow efficiency can quickly become compromised and processes tedious and time-consuming.

Refinitiv’s Side by Side API connects desktop apps, allowing them to communicate with one another and share information, boosting efficiency and promoting a cohesive and streamlined workflow and freeing traders to concentrate on making faster, better decisions.

Lippoldt adds: “Industry-wide collaboration is crucial and any partnership that promotes faster, more informed decisions by individual traders also ultimately promotes market-wide efficiency to the benefit of all stakeholders.”

At Refinitiv, we believe in the power of collaboration as our open ecosystem supports our ongoing commitment to sharing information across the industry.

We are confident that our partnership with valantic adds real and tangible value and that, through this collaboration, the whole has become greater than simply the sum of the parts.

Discover more about Eikon – Fixed Income and how to stay ahead with your fixed income investments