Overview

InterDealer’s CreditStation trading platform allows broker/dealers to aggregate liquidity from multiple sources and then distribute executable prices to downstream channels such as retail web clients, financial advisors, and third party portfolio and rebalancing tools.

Broker/dealer firms are able to automate trading workflows within the institution while the core trading desk remains the hub of trading activity within the firm. The b/d trading desk is able to cross orders between clients to capture a commission, while the FA benefits from real-time access to thousands of prices and the ability to bid, offer, buy, and sell fixed income securities.

The automation of manual tasks such as price quoting, responding to bid wanted, trade ticket entry, commission tracking, TRACE reporting, and STP to clearing systems enables the b/d trading desk to better serve their advisors and asset managers while capturing commissions each time a trade is completed. Trading desk resources can then focus on providing higher value services while core operational tasks are automated to produce efficient and accurate results.

All bids and offers for a given Cusip are viewable in a consolidated bid/offer stack, and then the firm’s staff are able to manage distribution and markup-parameters to connecting RIAs and external sources. Bids and offers from the b/d’s customer base can be re-distributed to other clients and directly to other retail channels.

Trading Protocols

CreditStation supports all popular fixed income trading protocols:

  • Request for Quote
  • Request for Stream
  • Streaming Indicative Quote
  • All-to-all quoting (ECN/ATS)
  • Exchange-style trading

Market Making / Quotes / Axes

  • Axes
  • IOIs
  • Quotes
  • Firm Orders

Execution

  • Hit/Lift
  • Negotiation
  • Structured Chat