Hi Geoffbart,
Well this has certainly not been a very productive search. I see why
you have had difficulties. It seems that although many companies
provide the services of their own fixed-income trading systems, many
of those use their own proprietary systems. Those folks are easy to
come by. Finding actual vendors of the software is a whole other
story.
Aurora seems to be in a category all its own, although I did find a
few others out there. My first search on bondmarkets.com netted me 11
returns for mortgage-backed securities. Of that list (below) however,
only 2 were actual software vendors, and one of those (Xbond) no
longer seems to have a website so I suspect is out of business. I’ve
left the contact information there in case you want to call them.
=================================================
FIXED-INCOME TRADING SYSTEMS - MORTGAGE BACKED
http://www.bondmarkets.com/cgi-bin/e-commerce.pl
=================================================
To review each of these companies, use the search link above, click
the box next to “Mortgage Backed” then search – your return should
look like this ---
Autobahn Electronic Trading
BondDesk Group
BondHub.com
BrokerTec Global, LLC
Fixed Income Securities, Inc.
GFI
Goldman, Sachs & Co.
Tradebonds.com
TradeWeb LLC
XBond
Of that list, only the following seem to be actual Vendors of a system
--------
BondDesk Group
One Lovell Avenue
Mill Valley, California 94941
877.266.3922
BondDesk develops, markets, and licenses software and related system
support mechanisms enabling broker-dealers to offer their clients
access to online fixed income trading and research.
www.bonddeskgroup.com
-----------------------------------------------------
XBond
6000 Fairview Road
Suite 1200
Charlotte, North Carolina 28210
704.552.3640
“XBond Order System (X-OS) enables broker-dealers and investors to
communicate, negotiate and execute fixed-income trades with designated
counterparties over the Internet or private networks. X-OS is
specifically designed to be extended and integrated with existing
front-, middle- and back-office systems. X-OS is fully operational and
tested for performance and scalability.”
===============================================
eCommerce in the Fixed-Income Markets
THE 2001 REVIEW OF ELECTRONIC TRANSACTION SYSTEMS
http://www.bondmarkets.com/research/ecommerce/ETSRprt1201.pdf
=================================================
The second phase of my search took me to the above 2001 review --again
a list of companies, but not necessarily a list of software vendors.
As the report describes:
“This report catalogs and describes all systems that allow dealers or
institutional investors to buy or sell fixed-income products
electronically. We generally do not include “middleware”
providers—vendors that principally market software or other
infrastructure used to build electronic trading systems—unless those
vendors also operate their own trading platform.”
Unfortunately, they do not identify which are vendors operating their
own trading platform. For your convenience, I have removed the repeats
of the above list and listed the remaining here, but they are more
easily reviewed in the actual document above. There is a brief
paragraph associated with each one.
To find them easily in the document, use the Acrobat search function
and search the name of the company.
Bear, Stearns & Co. Inc.
245 Park Avenue
New York, New York 10167
212.272.2000
www.bearstearns.com
Bond Connect
201 Devonshire, 9th Floor
Boston,Massachusetts 02110
877.411.2663
www.bondconnect.com
EuroMOT
Borsa Italiana S.p.A.
Piazza degli Affari
6 - 20123 Milano
Italy
011.39.02.724.261
www.borsaitalia.it
SEB Merchant Banking
Kungsträdgårdsgatan 8
P. O. Box 16067
103 22 Stockholm
Sweden
46.8763.8000
www.mb.seb.se
===================================================
Google Web search for: "FIXED INCOME TRADING SYSTEMS"
===================================================
Although these companies do not all necessarily mention
mortgage-backed systems, it seems that they all build custom systems
that might include that. Where they have addressed mortgage-backed
securities, I’ve quoted the site.
REAL TIME USA INC.
http://www.rts.com/
Doesn’t address mortgage-backed items directly, but does say:
“Screen 2 will prompt the user for par in the case of
non-mortgage-backed items, shares in the case of stock, or original
face for mortgage-backed items.”
------------------------------------------------------------------
TECH HACKERS
http://www.thi.com/index.shtml
“TechHackers is a software engineering and technology consulting
company that designs and implements enterprise systems for trading,
portfolio & risk management, and financial operations for the world's
leading financial services firms…”
Press- Release: “TechHackers' analytics for bonds and mortgage backed
securities selected by Charles River Development for their trading
system.”
-----------------------------------------------------------------------
APPIX
http://www.appix.com/
Appix originated as a "products" company and remains focused on the
development and maintenance of real-time fixed income trading systems
for large financial institutions.
“Appix offers a breadth of technical products, services and custom
solutions. Our development focus is automating and pioneering Mortgage
Backed Securities Trading and Accounting systems.”
----------------------------------------------------------------
SILICON SUMMIT
http://www.siliconsummit.com/
SST's product offerings include FixConnect™ ASP, FixConnect OMS™
FIX-based order management system, clearing and settlement risk
management systems, fixed income trading systems, and trading
operations decision management reporting. SST's Java-based
applications are available on NT, Solaris, Linux, and AS/400.
*no mention of mortgage-backed
------------------------------------------------------------
QUANT
http://www.quant.com/index.html
“Quant is recognized as a leading player in the aggressively growing
market for fixed-income trading systems.”
*No mention of mortgage-backed
-----------------------------------------------------------
OMGEO
http://www.omgeo.com/oasys3.html
Using Omgeo OASYSSM for Fixed Income trades enables Investment
Managers and Broker/Dealers to instantly send and accept completed
trade details and account breakdowns following trade execution
*several mentions of mortgage-backed securities – all in pdf files --
://www.google.com/search?sourceid=navclient&q=site:www.omgeo.com+MORTGAGE
-----------------------------------------------------------
DECISION SOFTWARE
http://www.dsoftware.com/
“The Decision Software Trading System (“DSTS”) is a real-time fixed
income trading system specifically designed for high performance
trading. Dealers and investors are able to take advantage of DSTS’s
real-time trader oriented functionality, wide breath of product
coverage, and global capabilities to manage their business more
effectively.”
“DSTS supports the following broad range of domestic and international
treasury and capital market products: ….Mortgage Backed Securities”
----------------------------------------------------------------------
SUN GUARD TRADING SYSTEMS
http://www.trading.sungard.com/sungard/index_fl.html
“SunGard Trading Systems/Global Markets provides trading integration
for market leaders in fixed income, foreign exchange and money
markets.”
*nothing about mortgage-backed securities
-------------------------------------------------------
That seems to be it. I looked at every company that came up in my
search and then searched their site for the word MORTGAGE using the
Google Toolbar “search current website” tool.
I also searched based on the information you provided. Several of the
companies listed on the Conference website are listed about. The rest
didn’t pan out.
So, I hope that satisfies your search criteria. I have combed every
inch of the web for all the combination of words that I could think
of. Most led nowhere, but the ones that did net results I’ve listed
above.
If anything I’ve said isn’t clear, please feel free to ask for
clarification.
--K~ |
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