The Hidden Cost of Your Trading System

The legacy tax. The existing systems are inefficient for today's fixed income trading business.

Take, for example, operational efficiencies. You need to know when a trade has occurred, when it is cleared and when it has been reported correctly. Whatever your risk and operational controls, the current set of tools are missing those efficiencies.

The proverbial elephant in the room: every part of an organization is looking at your fixed income trading business as what they know and what they see. That starts a problem.

Now couple that with the fact that there are trading inefficiencies trapped in because of the multi-venue, multi-protocol liquidity that is available. Traders need to be a lot more efficient today and have the ability to customize their workflows to meet their needs, which is missing from the existing systems.

So you have trading issues, you have operational issues, and you have risk and compliance issues with the current systems as they exist today. That's your legacy tax.