Automate your ETF and fixed income quoting for your clients’ Requests For Quotes.
InfoReach Trade Management System (TMS) implements an RFQ automation algorithm that allows brokers to receive requests for quotes (RFQs) from their clients via Bloomberg or direct FIX connection. Based on the customer's preferred configuration, the algorithm then queries a number of quote providing partners and market makers for quotes, selects the best quote, marks it up as needed, and forwards it back to the client. If the client sends an order in response to the quote, the same algorithm executes the order against the best quote partner.
This automation eliminates the need for brokers to manually handle incoming client RFQs, which can be a tedious and time-consuming process. The algorithm can handle a significant number of requests, each at a speed of milliseconds.
Auto-Q supports ETFs and fixed income instruments. It can handle sided RFQs (where the RFQ sender discloses the side of the quote they desire, i.e., buy or sell) and side-neutral RFQs (where the RFQ sender does not disclose the side of the quote and the broker is expected to provide both bid and ask prices). It also supports handling of multi-leg instruments (known as SWITCHes).