Credit Agent automates quote negotiation and trading workflows for banks trading on Dealer-to-Client (D2C) venues and supports real-time trade monitoring.
It is available for Bloomberg Bonds US, MarketAxess US, Tradeweb Cori, and Trumid List, with LTX and MTS BondVision in development.
These trading venues support multiple quote negotiation workflows. All of these workflows are different, making it difficult for banks to build automated negotiation systems to respond to customer enquiries. It is a complex and time-consuming to automate these workflows, as all state transitions need to be mapped, codified, tested, and maintained.
Credit Agent automatically negotiates trades based on a Dealer’s instruction. It is provided as a hosted service where venue connectivity and all negotiation workflows are automated. It enables Dealers to fully automate significant parts of their trading workflows. The service allows trading desks to focus on larger tickets and risk management strategies, while automated RFQ negotiation provides clients with an improved and faster service.
Credit Agent is quick to deploy. All that is required is for Dealers to provide a price stream and an execute/reject instruction for a given RFQ. This is done using a simple API accessible via websocket.
Credit Agent addresses the core challenge faced by dealers, where each trading venue API is different and support multiple complex trade workflows per asset class. Credit Agent provides one simple workflow for automation and is quick to deploy.
This 30 second animation provides an overview of Credit Agent, including supported workflows and venues.
