IPC and BondWave announce partnership to simplify pre-trade price discovery

Dan Barnes

IPC Systems, the communications and connectivity specialist has integrated its Unigy trade communications platform and IQ/Max Touch financial terminal with the BondWave Calculator, a pre-trade price discovery tool developed by Bondwave. The partnership potentially offers bond traders an integrated solution that automates the trading workflow by surveilling market activity.

The new collaboration uses BondWave’s trade benchmarking engine, alongside IPC’s user community, with direct access through IPC’s IQ/MAX Touch financial terminal. The BondWave Calculator, as offered on the IQ/MAX Touch financial terminal, is designed to provide market participants with the ability to determine, on a pre-trade basis, the fair market value of a bond, while also surfacing additional benchmarks across the regulatory-prescribed ‘waterfall’. The collaboration means that users should be able to do more in less time, with the confidence that they have done their diligence for pre-trade price discovery.

“IPC is eager to welcome BondWave and their market leading technology onboard. Our combined expertise allows us to offer the global financial community direct access to IPC’s APP framework capabilities, alongside BondWave, through our IQ/MAX Touch financial terminal. Our strategic partnership is a game-changing proposition that transforms how traders consume applications and optimize workflows,” stated Bob Santella, CEO at IPC Systems.

The IQ/MAX Touch is a software-driven communications device for delivering compliance, security and user functionality to capital markets firms. It provides a multi-lingual interface for multinational teams. IPC reports it offers connectivity between more than 7,000 market participant locations across 750 cities in more than 60 countries.

”For decades, IPC has been a leader in providing sophisticated technology and services that meet the unique and ever-evolving needs of the global financial markets,” stated Michael Ruvo, CEO of BondWave. “Our proprietary trade benchmarking engine provides IPC’s vast user base with enhanced pre-trade price discovery tools that ultimately help them trade smarter and more efficiently.” 

The BondWave Calculator is driven by BondWave’s Effi platform, using an application programming interface (API) layer that to integrate with partner and proprietary client applications. This new initiative should allow users of IPC’s Unigy and IQ/Max Touch solutions to enter a security identifier, quantity, price, and buy/sell indicator to instantaneously calculate relevant benchmarks against which to compare their trade.