MarketAxess
Camille McKelvey
11 June 2024
Camille McKelvey, head of business development STP at MarketAxess Post-Trade, explores the importance of data and how the firm鈥檚 new solution aims to provide insights and new opportunities in a hyper-competitive environment
Image: Camille McKelvey
In the ever-evolving world of finance, efficiency is everything. Recognising this, MarketAxess RepoData combines artificial intelligence (AI) with robust data analytics to revolutionise how financial institutions optimise their balance sheets and transform trading operations.
RepoData emerged in response to the surging demand from repo desks for real-time and historical insights into repo transaction data across all client accounts. MarketAxess RepoData enables firms to convert vast repositories of repo data into actionable intelligence, facilitating informed decision making and strategic manoeuvring in the market landscape.
Central to RepoData鈥檚 functionality is its ability to aggregate, normalise, and employ machine learning and AI to extract invaluable insights from repo data repositories. This platform is tailored for the needs of financial institutions when shifting towards automated, ultra-low latency electronic trading.
The rise in trading volumes and market participants underscores the necessity for RepoData, which offers unmatched visibility into repo transaction data from both internal and external sources.
Key features of RepoData:
鈥� Comprehensive coverage: RepoData encompasses repo and buy-sell-back transactions across an array of product categories, including government bonds, SAS, emerging markets, and corporate bonds.
鈥� Granular insights: RepoData provides insights into repo rates and volumes across various terms, ranging from overnight to forward start, empowering organisations with an understanding of market dynamics.
鈥� Data delivery: RepoData ensures timely access to critical insights through two daily CSV files, summarising repo rates and volumes at both ISIN and product levels, therefore ensuring organisations are equipped with relevant and actionable information.
RepoData leverages the extensive repository of the MarketAxess Repo Post-Trade platform, a bilateral repo confirmation matching platform. With US$230 billion in matched trade average daily volume (ADV) and over 700,000 trades matched per annum, MarketAxess RepoData serves as a source of repo insights for both sell and buy side institutions.
RepoData鈥檚 value proposition extends beyond repo traders, encompassing existing credit and rates clients seeking insights into funding costs and market dynamics. By offering aggregated and anonymised data, RepoData ensures compliance with industry standards, while delivering actionable intelligence to enable decision making.
While RepoData is not real-time in its current iteration, future phases promise enhanced real-time capabilities, further augmenting its value proposition for financial institutions navigating the fast-paced financial landscape.
In conclusion, RepoData stands as a beacon of innovation in repo instrument analytics, providing financial institutions with unprecedented insights and capabilities to thrive in today鈥檚 hyper-competitive financial markets. As the financial industry marches towards a digital future, RepoData promises to unlock new opportunities and drive sustained growth for organisations worldwide.
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