Trade processing

Yieldbroker is actively working towards STP solutions with its clients, with a key organisational objective being improved transactional efficiency and the mitigation of operational and compliance risk for all debt market participants.

We recognise that client STP requirements vary greatly and Yieldbroker offers a variety of pre-trade and post-trade functionalities that provide various degrees of assistance in the automation of settlement and accounting processes:

• The Yieldbroker DEBTS trading platform can be seamlessly linked with a number of OMS platforms allowing clients to upload trade details and allocations, execute trades then retrieve ticket and settlement details.
• Yieldbroker can also provide assistance to clients who wish to utilise our API and FIX messaging to link in-house pre-trade or post-trade infrastructure to the DEBTS application
• Our allocation functionality provides the ability to attach allocation details to transactions to allow individual trade tickets to be issued for each account.
• The ability to receive immediate price confirmation on all trades.
• Yieldbroker and Omgeo have established an interface between their services to facilitate streamlined fixed income processing.

Yieldbroker and Order Management Systems

Yieldbroker has established interfaces to both Charles River and Blackrock Aladdin that allows users of these systems to upload deal information and execute trades through the Yieldbroker DEBTS trading platform, providing institutional portfolio managers with convenient access to pricing and order execution.

The FIX-based interfaces also provide clients with the ability to retrieve transaction details enabling the automation of post-trade data processing, settlement and compliance procedures.

Charles River or Blackrock Aladdin clients wishing to implement the interface should contact Yieldbroker to arrange access.

Risk management and compliance

Increasing requirements for organisational risk management and heightened regulatory and compliance oversight have highlighted the inherent advantages of electronic trading in debt securities and debt derivative markets.

Typical organisational risks involved in trading, in what are predominantly over-the-counter markets, include information risk, execution risk, settlement risk and compliance risk. Transacting through Yieldbroker mitigates risks over the life-cycle of a trade by:

• providing effective pre-trade price discovery,
• efficient, competitive trade execution,
• documenting trades on an electronic deal blotter accessible to front and back office users,
• providing ticketing, trade confirmation and allocation functionalities,
• creating electronic links to order management, risk management and settlement systems to enable the automation of pre-trade and post-trade data processing and settlement procedures,
• compiling a comprehensive compliance archive of trade procedures and documentation accessible on demand through the Yieldbroker Debts application.