Strategic Communications Software plc will, henceforth, trade through a new subsidiary, Qanat Limited. The change of branding marks a significant shift in the company’s product offering and, in particular, the introduction of a revolutionary new banking concept, Distributed TradingTM.
The concept allows banks to define how they’ll do business and where they’ll locate their trading operations for optimum efficiency. Qanat claims that Distributed Trading gives its customers options to run a leaner, more cost-effective trading operation, to enhance customer service, to empower branch networks and clients, and to open up new business opportunities.
"Banks, historically, have run large and expensive central trading functions," says Wayne Bushby, chairman and CTO of Qanat. "Distributed Trading offers several alternative models. You could, for example, put your trading capabilities on your clients’ desks, empowering them to do their own trading, leaving your traders to concentrate on the complex deals and your sales desks to focus on relationship building."
Bushby also argues that you could use the concept to run the trading operation in your branch networks – at much lower cost than today. Distributed Trading lets you use sales desks more effectively, claims Qanat. Dealers feed the sales desk with pricing, execution and information. The sales desk stays close to the customer, building and managing the relationship. And all risk is managed from one room.
Further, Distributed Trading gives the ability to create virtual trading rooms. A bank could use it to allow it to hook into another bank and market that bank’s products efficiently, branded as the seller wishes. Conversely, the same functionality lets a bank market its own products through other banks. As many banks seek to outsource treasury operations, Distributed Trading offers an attractive route to that end.
Pat Dolan, CEO, comments, "Distributed Trading has huge potential for beneficial change. A banker with vision could completely re-design the operation using the flexibility that the Qanat product suite offers. They could take advantage not only of the inherent facilities of the software but also of its ability to integrate with existing treasury management systems. And the modular design of the software suite means that progressive revolution is a real option, never jeopardising mission-critical systems."
The product suite:
Q-call: offers a real-time, totally reliable communication tool that allows up to 16 simultaneous conversations. Active calls and messages are managed on screen, allowing you or your customer to deal fast. It’s extremely secure and provides a full, forced audit trail.
Q-live: delivers all the decision support information you need. It’s a very cost-effective way of providing live market data and prices, plus research and analytics, to your satellite offices, customers or even your customers’ customers. It has the facility to deliver automated pricing, including client-specific spreads. Naturally, it’s an efficient way to deliver pricing on your own products, too.
Q-quote: offers person to person, request-based trading across your business, out to customers or between institutions.
Q-smart: opens up automated trading, eliminating the paperwork – and the errors that go with it. It takes the low-value deals off your traders’ desks, so they can concentrate on the big ticket opportunities.
PulsaX: is the communication backbone that makes it all work seamlessly. Add PulsaX DK, our development kit, and you can even hook your own applications into your Distributed Trading operation.
Qanat is launching Q-call, the first in the series of modules in its suite, and will bring the rest to market progressively over the coming months.
The Qanat offering has obviously proved attractive to investors, too. In the demanding circumstances of the markets earlier this year, the company successfully raised substantial funds for this new stage of its development.