What is Quote-cast ?
Quote-cast is an information management system that brings together Inter-dealer broker (IDB) indicative quote feeds, in-house risk analysis, and trade blotters to deliver real-time market intelligence to desktops across the entire trading operation.
Who is Quote-cast for ?
Listed option market-makers, equity derivatives trading desks, risk managers and controllers. In fact any organisation receiving a large numbers electronically delivered indications of interest (IOIs) from customers, sales desks or inter-dealer brokers.
Why do they need Quote-cast ?
Inter-dealer brokers deliver many thousands of equity derivative based indications of interest (IOIs) to trading desks and risk managers every day. In the past they were delivered by voice or email or maybe instant messages. Nowadays they are typically delivered electronically through a variety of systems dedicated to such IOIs.
Did this make everyone's life easier ?
Well, yes, it did up to a point. But electronic delivery only helps if the trader or risk manager is able to process the messages electronically. And the number of inter-dealer brokers, and therefore IOIs, has grown rapidly over time. A desk trading just listed Eurostoxx and DAX options could easily receive up to 5000 electronic messages relating to relevant IOIs every day via systems such as BrokerHub. Better than several thousand emails maybe - but only if they can be captured intelligently. Many of those IOIs are duplicates and few will result in an execution - but any IOI might be a trading opportunity and every IOI gives the recipient useful market intelligence.
In order to make sense of electronic IOIs, to avoid information overload, and to extract the maximum market intelligence from all the available data every trader and risk manager across a trading operation needs the ability to store, filter, sort, and search through those thousands of messages. Most important of all the trader or risk manager must be able to instantly analyze IOI data against internal fair values so as to highlight trading opportunities, market discrepancies, or off-market fair values.
Quote-cast provides a solution to all these problems as faced by trading desks and more. A summary of features and a variety of screenshots can be found here .