TransACT (Automated Customer Trading) automates Request for Quote (RFQ) negotiation workflows for banks trading on Dealer-to-Client (D2C) venues.
These trading venues support multiple RFQ negotiation workflows, and all are different, making it difficult for banks to build automated negotiation systems to respond to customer RFQs. It is a complex and time-consuming to automate these workflows, as all state transitions need to be mapped, codified, tested, and maintained.
TransACT automatically negotiates RFQs 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.
TransACT 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.
TransACT addresses the core challenge faced by dealers, where each trading venue API is different and support multiple complex trade workflows per asset class. TransACT provides one simple workflow for automation and is quick to deploy.
