Traccr has enhanced its online negotiation and trading platform for structured products, which now incorporates instant messaging to improve the communication between participants.
“Our goal is to streamline the trade execution process by enhancing bilateral communication from inception of a request-for-quote by either a dealer or investor client to matching trade specifications during execution and subsequently providing a complete audit trail post-execution to allow for improved compliance oversight,” said Farooq Jaffrey, Traccr’s chief executive officer.
Due to dealers’ interest in combining their traditional sales with Traccr’s electronic portral, Traccr has offered more than $800 million of transactions, primarily credit linked notes (CLNs). Some names include Banesto, BNP Paribas, HSBC Bank, Mediobanca, Nomura International, Societe Generale and UBS.
In addition to this most recent enhancement, Traccr has made various other improvements since the platform’s launch in December 2011, including the automatic upload of primary axes by traders, click–and-trade execution, real-time alerts, and online negotiation. All of these enhancements are to increase the portal’s effectiveness in customizing CLNs and Credit Default Swaps.