In two minutes, Adam Lister of Bloomberg looks at a quick way for traders to turn swaps trading ideas into orders, with a record turnaround of 16 minutes for a Python literate trader.
Highlighting a rapid way to launch a trading ticket, Adam talks though the technology and shortcuts to achieve more efficient trading.
Interview Transcript
Dan Barnes Welcome to Trader TV Amplified, I’m Dan Barnes. Joining me today to discuss the way trading desks can boost their execution capabilities and the interest rate swaps market is Adam lister of Bloomberg. Adam, welcome to the show.
Adam Lister Hi, Dan, great to be here with you.
Dan Barnes So, Adam, what one thing would you recommend desks do in order to amplify their trading capabilities in the swap space?
Adam Lister So being able to move rapidly from idea to actually transferring risk in an operationally secure and repeatable manner is obviously key for the trading community. That goes without saying, especially with some of the recent moves we’ve seen in the REITs markets. Lately, we’ve had our eyes on simplifying the experience through our DOR pipes. So that’s direct order routing of interest rate swap orders.
Where we’ve landed is one of the most user-friendly ways is a recent release which allows traders to directly hook into the Bloomberg system via their own Python code. So they can represent their swaps in a few key parameters, effective date, maturity date index, for example, and push it through Bloomberg’s API to launch that trading ticket directly on the terminal so that they can then proceed with negotiation and execution.
The Bloomberg API, which runs alongside the terminal, already handles the authentication and session management. So that takes away a lot of the complexity that you would find through a traditional fixed onboarding process. I think the record so far is 16 minutes for a Python literate trader to go from downloading those relevant libraries to actual execution of a bond. My product interest rate swaps will take a bit longer, I think, but it gives you an idea of the speed to get up and running. Very different from some of the more industrial integrations we have where people are taking prices back and forth through to their OMS.
I think this is a neat halfway which will satisfy a lot of customers. My colleague who looks after the deal, our project, Joan Puig, did an excellent webinar a few weeks back, so I’d recommend anyone interested to take a look at that and of course speak to your electronic trading representative for more information.
One other point I just want to make as well is that many of our customers will have their swap tickets set up in Launchpad Worksheets to monitor pricing. We’ve now added launch ticket optionality here as well, so you can click on that bid or offer directly to launch a trading ticket without having to go via BBTI our home page menus. It saves a few important clicks for our customers to be able to move their risk efficiently.
Dan Barnes I’d like to thank Adam for his insights today and of course you for watching. To catch up on all of our shows, go to tradertv.net.
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