TRADING ANALYTICS

TradAir NOW: Real-time & historic FX trading analytic engine

Unlock the value embedded in trading data. Going beyond simple TCA or MIS. Gain deep insight into pricing characteristics of liquidity providers and trading behaviour of clients across all venues.

Leveraging the cloud and BigData, the analytic engine is super-fast. Processing billions of records in seconds, with results presented in intuitive pre-build suite of customisable HTML5 dashboards. Real-time analysis of all client flows across all venues, internal flows, entire order-books, fill rates, latency stats, Last-Look times, all market data, everything.

Matthieu Mayran, cloud solution architect, Google BigQuery;

“We are really excited to see TradAir’s innovative trading analytic platform leveraging Google’s BigQuery. Analyzing the vast amounts of real-time data generated by trading platforms, can be technically challenging. But TradAir’s solution makes this much easier, and helps their customers to gain deep insight from their trading data.”

 

TradAir NOW enables traders, sales, risk and compliance to rapidly visualize, understand and optimize, key platform metrics in order to:

Optimize FX Liquidity: Optimize LPs, based on pricing metrics: reject rates, last look latency, spread, % top of book etc

Improve client profitability: Understand behaviour, optimize client spreads based on metrics: hit rates by curr pair, trade size, channel etc

Manage toxic flows: Identifytoxic flow’ that requiring hedging or removal, by analyzing metrics of ‘trade profitability decay’

Grow client wallet share: Identify top clients by vols/profitability, and optimize client pricing, based on hit rates/per curr etc

Upload trade data from any platform: To be extended across entire e-FX business, with direct programmatic access, create custom analytic queries and displays

 TLA-IPad-Shelf

TradAir NOW dashboard with click through HTML5 analytic displays

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Future Developments:

As we develop the product further, we are extending the analytic value proposition, by creating analytic modules focused on:

Abuse of last-Look: Identify asymmetric ‘last look’ pricing

Excessive Margins: Identify excessive margins, or off market pricing

Recreate any suspicious trade: Recreate any suspicious trade with full market data before and after trade – all historical data kept for up to 7yrs.

Demonstrate fair pricing: Demonstrate to client ‘fair pricing’

Exception alerting with thresholds: Set alerts to trigger around any metric such as the above

Relative ranking: Understand your relative ranking with clients compared to other LPs

Hit rates, top of book and % skew: Analyse client hit rates, compared with % top of book and measure of pricing skew

Analyse client hit rates: Understand behavior of liquidity taking banks by analyzing hit rates/currency pair

Impartial bench-marking: Create suite of market neutral benchmarks for all currency pairs

Benchmark internal pricing behavior: Enable compliance to compare any trade against benchmark


Infrastructure ‘under the hood’

TradAir NOW is built using Google ‘BigQuery’, cloud based technology, and designed to rapidly capture, store, analyze and process in near real-time a staggering amount of data from over 50 liquidity providers including major banks, non-banks, exchanges and ECNs.

In terms of processing capacity, TradAir NOW can handle it, processing:

Ticks processed: 7mln ticks/sec

Daily data upload: 20bln ticks/day

Processing speed: 5-8 seconds to process around 5bn records, depending on complexity

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