David Raccat and Rudy Perez, Wematch.SecuritiesFinancing
Interviews
Wematch.SecuritiesFinancing
David Raccat and Rudy Perez
17 April 2018
David Raccat and Rudy Perez of Wematch.SecuritiesFinancing discuss the company鈥檚 new Delta One platform
Image: Shutterstock
What are the key features of the new Delta One platform?
David Raccat: The Delta One platform is coming out with five main products, which are cash close, futures (on single stocks and on index), dividend futures, synthetic products and total return swaps on futures. This new platform will be released in May 2018.
How will this benefit Wematch clients?
Rudy Perez: The benefits for the users will be similar to what we currently offer on securities financing and equity derivatives, which is full automation, connectivity, price transparency and discovery, and of course optimal matching engine. Delta one products will make the perfect bridge between securities financing and equity derivatives. The two communities of users (already onboarded on our two existing platforms) will be able to navigate between the three new ecosystems and to optimise their matching process.
Raccat: The core community active on the Delta One platform will be of course the delta one community, but we expect participation and contributions from existing Wematch communities.
Perez: The good news is that because we now have 39 legal entities onboarded on our current existing and up-and-running Wematch platforms, we can leverage on this success to onboard our future Delta One users. The new version of the platform will be cross products, which means that the users would be able to jump from one environment to another one. It will be extremely user-friendly.
What have been the hurdles in launching this product?
Perez: The major difference is that our first batch of delta one products are all listed, which adds a layer of connectivity with exchanges compared to existing over-the-counter (OTC) products. At launch we have established connectivity with Eurex and we will expand to other exchanges as per our client鈥檚 requests and needs.
What are some of the advantages of delta one products?
Raccat: Delta one products are bringing an important milestone in our development roadmap: connectivity to exchanges and central counterparties (CCPs). With Eurex, we will offer connectivity and ability to trade listed products. This completes the scope of current products which are all OTC and opens the door to further developments with CCPs.
What growth plans do you have across the next year?
Perez: We are rolling out our current main strategy, which is to develop new products and new platforms according to the needs of the market and of our clients. Regulation is pushing for more price discovery, more transparency, more reporting, and the expertise we have developed on existing platforms helps us to roll out new products pretty quickly.
In addition, our team is always very open to suggestions and feedback from our users to discuss areas where the Wematch technology can bring added value to their existing trading processes. The other dimension is geographical. We are currently covering users in Europe and in Asia. The final step will be to set up a team in the US, which will be live before the end of the year.
Raccat: Connectivity is the cornerstone of our strategy. We are continuously increasing connectivity with our current users in order for them to get the most out of Wematch: simpler, more efficient and more automated processes.
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