The development of the FX market in the last 10 years has created a number of ‘commoditized’ deal types e.g. spot trades that have been made available digitally from ECN’s and multibank trading platforms as distinct STP feeds. Some products continue to defy this process as they are by their very nature ‘unstructured’ and so challenge the ability of software to collect data where structure is required e.g. complex options.
Most of these trades are dealt or confirmed on chat or text based systems such as Reuters Dealing 3000, IM platforms or e-mail including attachments. They tend to be high value tickets and so offer high levels of risk if trades are lost or entered to downstream systems incorrectly.
The DealHub /Conversation Analyser Module provides real-time or post-trade parsing and trade or order confirmation on a number of text based STP sources, including Reuters D3000 conversation,
e-mail, e-mail attachments and DealHub Connect secure messaging. The application uses highly configurable pattern recognition algorithms to extract & create tickets with configurable scoring thresholds. Multiple tickets can be created from a single conversation with support for spot, forwards, outrights, swaps, NDFs, commodities, vanilla and exotic options. FX limit and stop loss orders can be extracted for upload to order management systems.
Features:
- Supports any text-based source including Reuters D3000 conversations, e-mail, e-mail attachments, instant messaging and DealHub Connect secure messaging
- Wide range of e-mail attachments are supported including MS Excel, MS Word, PDF and CSV files
- Highly configurable parsing patterns and data entry screens with ability to customize for different sources, instrument types and workflow
- User definable word lists and aliases for enhanced pattern recognition
- Configurable tolerance levels for trade acceptance, rejection or review
- Supports creation of multiple tickets from a single conversation
- Support creation of single or multi-legged limit and stop loss FX orders for upload to order management systems
- Easy to use integrated trade entry GUI with highlighted pattern/conversation reference points
- Set scoring thresholds to create either STP for pure spot transactions or unchecked queue for options/ conversations/orders
- Conversation and ticket windows created for each conversation in the queue
- Parsed text highlighted to show quickly where ticket information was extracted
- Scoring breakdown highlighted on the right of each parsing window
Benefits:
- Highly configurable parsing patterns and data entry screens provide ability to customise different sources, instrument types and workflow
- Ability for user to define word lists and aliases for enhanced pattern recognition
- Scoring thresholds can be set for spot and options transactions – determining validity of the transaction
- Multiple tickets can be created from within single conversation window including options, spot hedges, NDF’s and commodities
- Prevents entry of duplicate tickets
- Provides a searchable 10 year archive of all trades
- Creates mandatory compliance and audit records of trading activity and facilitates investigations
For more information on DealHub Conversation Analysis Solutions, click here
