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Trade Support


A top bracket Investment Bank that is positioned as a principal issuer of High-Yield Bonds world wide sought our expertise in designing and implementing a high-performance trade support system for their most lucrative business unit, the High-Yield Bond Trading Desk. The firm knew us from previous successful engagements involving their trading and sales operations.

The High-Yield Bond Desk Trade Support and Reporting System was designed to eliminate volume sensitivity from the trading, trade management, and trade support functions. With revenues frequently spiking to $1 million dollars a day and beyond, the volume of transactions was overwhelming the ability of the traders, their managers, and the support staff to keep up. There was persistent concern that the desk might go into the next trading day without all the position and profit and loss (P&L) data from the previous day being fully reconciled.


DSI designed and installed a system to capture the data and automate the processes that the desk depended upon. The system captures transactions in real time from different trade-input systems. It simultaneously captures real-time updates to produce master and customer name-and-address tables. It uses this information, both indicative and quantitative, to validate transactions as they flow to the system, alerting support staff if there is an error in the message, and providing a means to correct a transaction on the fly.

As the transaction enters the database, the application performs yield calculations and P&L calculations, both realized and unrealized, to reflect accurately the status of the transaction from a revenue and risk perspective. Each time a transaction enters a trader's account, and each time a trader marks a position to market, the same calculations are performed. The application keeps the trader's positions continually in synch for trading, as well as for intra-day and end of day status reports for management. Results from operations worldwide are retrievable from a single database.

The front-end GUI application is developed in PowerBuilder, Microsoft Visual C++, and Java. PowerBuilder is an object-oriented software tool; Microsoft Visual C++ is used primarily in the stored procedures; Java is used for communications with the other systems. The relational database is Microsoft SQL Server running on Microsoft NT for Servers.

  • The application allows traders, managers, and support staff to take "$1 million days" in stride.
  • DSI's choice of tools and platform allow the firm simultaneously to reduce risk and to manage costs by empowering the staff to work more accurately and quickly without increasing headcount.
  • The application permits timely and accurate reporting for management as well as for trading and sales staffs at a time when High-Yield Bonds have become internationalized, raising both the volume and the risk.
  • Trading operations on three continents are linked by the application over the Bank's internal network.