Major banking and trading institutions that have implemented bespoke Distributed Sales Platforms (DSP) have witnessed greater market share, improved client satisfaction and increased profitability.
Due to limited trade barriers and significant cost constraints (post the financial crisis), clients have moved towards institutions that have invested in their DSPs with relative ease and in a limited space of time. As a result, banking and trading participants who have not invested in their platform(s) are losing market share and therefore profit. This is not only impacting current results but will increase the costs witnessed by these institutions in years to come as they spend significant amounts of their budget on client retention or attraction strategy.
There are several challenges facing market participants that have not yet implemented a DSP. Arguably the largest issue facing them is the ability to retain their current client base who are being drawn in by DSP competitors. These platforms appeal to clients because they are easy to use, often offer multiple asset classes for trading, and most importantly, offer competitive pricing.
In such financially and regulatory constrained environments, it is cost leadership in the form of competitive pricing and client satisfaction that are proving to be the critical success factors of trading houses. Each of these is achieved via the implementation of a DSP.
- Brickendon provide a complete solution for implementing a DSP, providing:
- Deal capture for a wide range of multi-asset products.
- Internal and external user functionality.
- An eTrading platform.
Implementing a DSP is a comprehensive project with several smaller underpinning projects. These include:
- An in-depth analysis of the current systems in place (including business processes, order execution, data management and strategic pricing capabilities).
- A detailed analysis of business requirements and solutions propositions.
- A proof of concept implementation using Brickendon Rapid Prototype Development Methodology (RPDM)
- Database design and migration.
- Screen User Interface (UI) design, including interfaces and messaging with all upstream and downstream systems, such as risk, finance & operations, as well as a connection to multiple Electronic Communication Networks(ECNs).
DSP’s lead by Brickendon are robust, scalable and adapted to integrate into existing infrastructure. It should be, and will become, an integral part of your institution’s strategy.
Brickendon eTrading Platform Design is delivered using unique Brickendon solutions including:
- Fully integrated platform
- Used across multiple distribution channels
- Adaptive, flexible and technically integrated
- Able to offer tailored solutions to clients
- Functionally modular
- Ensure high performance and low latency
Major Banks are in the process of defining a unique way to consolidate currently fragmented client account management. By developing a bespoke trading platform, banks and trading institutions can have an insight into patterns of trades with existing clients and can identify gaps in current service offerings. Having a capable multi-asset trading solution significantly enhances the ability to be able to manage client accounts and to respond to their needs more efficiently.
The sales platform can be utilised internally to strengthen and streamline existing trading support activities, leading to profit margin maximisation.
- Streamlined order management
- Faster, easier and wider access
- Multi-asset and multiple geographies coverage
- More sophisticated client trade analytics
- Broader and more tailored service offerings
- Differentiated look and feel from competitors
- Enables competitive service offering
- Flexible product configuration
- Intelligent responses to arbitrage products
Banking and trading institutions who are looking to build or upgrade an eTrading Platform can benefit from Brickendon’s expertise in Distributed Sales Platform Design and Build. Our experienced team can provide a comprehensive solution that encompasses the entire lifecycle of bringing a product from inception to production.