reports rapid uptake of its bond data analytics

Dan Barnes
Vincent Grandjean

Vincent Grandjean, CEO of analytics software provider, is pleased with the firm’s progress to date.

“We are live with clients and bearing in mind we started in mid-September that is not bad,” he says. “We put clients live before Christmas and we are collecting feedback in January.”

The firm has launched into the bond markets, offering firms a system that it says can be used to overlay public data – for example regulatory reporting data – and a firm’s own data which can support a number of use-cases.

“What we are building is data analytics software that will allow organisations – be that banks, asset managers, institutions or universities – to aggregate their data with public data,” says Grandjean. “For example, banks might provide their internal trading data and they can overlay that with public data. We can then add analytics via a user interface (UI) or application programming interface.”

In Europe, standards set out under MiFID II’s RTS 22 create the need for transaction reports for each asset class, which Kaizen Consulting has estimated can comprise up to 65 XML fields.

“There is some public MiFID data which can be accessed today, and as of today we are able to provide a solution to our clients that they can use to collect the machine readable MiFID transparency data,” he says. “Usually when you connect to the machine readable data you have all asset classes available; bond, derivatives, ETFs and some equities, although we are not focusing on equities.”

Although is not being prescriptive of how its systems might be used, it has already seen use cases put forward as input on risk systems, transaction cost analysis and for best execution.

Grandjean believes that its open approach to offering services and full-service model, supporting the analytics as well as the user interface (UI), helps users to adapt the technology to the purposes they need.

“An advantage of having the UI is that we can easily demonstrate use cases, and when we talk to senior management, they actually want to see what we can do. We can simulate a trading blotter, and then overlay MiFID II data,” he says. “So when you trade, you will not only see the data from a platform which will match the prices at which you traded, when you miss a trade you can see the price at which the trade happened and for an algo or trading desk it takes just two minutes to see the advantage of that.”

©Markets Media Europe, 2021