Mosaic Smart Data, the fintech which provides data for fixed income, currencies and commodities, has given traders the ability to instantly generate written reports on their activity through natural language generation.
For example, a trader may want to break down activity by client domicile or to see the average trade by client type. These reports normally take a member of staff hours to create.
Matthew Hodgson, chief executive and founder of Mosaic Smart Data, told Markets Media that traders can fully customise the reports they receive. Mosaic Smart Data can already provide visual data analytics through a dashboard which traders can personalise.
“Traders simply highlight the dashboard and a report is instantly generated of the most salient features so the increase in efficiency is enormous,” he added. “They can add their comments and sent it to clients or colleagues straight away.”
He launched the company after finding it impossible to get a consolidated view of data on all trades with one client across all products in his previous roles at Deutsche Bank and Solomon Brothers.
Hodgson continued that the Mosaic platform can generate trading activity reports on any set of FICC analytics including both voice and electronic trade data. Through understanding past client behaviour, banks can improve service and profitability by anticipating their future needs.
Buy-side firms have corresponding needs and through analysing their interaction with brokers and clients, they will be able to improve service and profitability. Custodians, venues and exchanges could also generate reports from their data.
In August Mosaic Smart Data launched the first real-time analytics for swaps as banks increasingly need to analyse transactions at a granular level to win market share. The new swaps analytics allow banks to combine their electronic and voice-traded swaps transaction data into a single view on MSX, Mosaic’s real-time data analytics platform.
Last year Mosaic Smart Data announced that MSX had been deployed across JP Morgan’s entire global fixed income sales and trading division and the bank has acquired a minority stake in the fintech.
Turning data into actionable intelligence
Consultancy Greenwich Associates said in a recent report that in fixe income relationships and balance sheet still matter. However, the ability to manage both in a more quantitative way can mean the difference between profit growth and a year-on-year decline.
Kevin McPartland, head of research for market structure and technology at Greenwich said in the study, Trust and Data Drive Fixed Income Dealer Growth, that investing in technology is the top priority for bulge-bracket banks, and second only to organic growth among middle-market dealers.
“This idea has driven both large and middle-market dealers to focus their technology efforts on data, analytics and workflow automation, while looking to increase the data management literacy of everyone on the desk,” added McPartland.
He continued that while data management is not new in the fixed income market, its role in the front office is still emerging.
“Turning what was traditional reference data and market data into actionable intelligence for the sales and trading desk is the ultimate goal," said McPartland. “Regardless of how data management is defined, very few feel as if they are doing a good job of managing and exploiting the onslaught of new fixed-income data.”