London, 19 May 2003 - Tullett Liberty, one of the world's leading inter-dealer brokers, today announced the launch of Post:marker, a straight-through processing application to enhance post-trade notifications. The product was created in response to client demand, and will be available to Tullett Liberty counterparties from June 2003. It is currently in beta testing with a group of core liquidity providers in London and New York.
Post:marker allows trade details to be transferred onto the clients' systems automatically, without the need for manual data entry. After executing a deal, traders receive electronic notifications from Tullett Liberty, which they can then accept or reject through a single click, allowing errors in the trade to be detected and corrected more quickly. Following affirmation, trade details may be transmitted automatically into counterparties' internal middle and back office systems, allowing positions to be updated immediately. A variety of connectivity options are available, depending on a client's specific needs.
Post:marker facilitates straight-through processing and enhances operational efficiency: eliminating manual keying and automating trade affirmation reduces the number of exceptions and speeds the detection and correction of any errors that do occur.
Post:marker uses XML documents, based upon the FpML standard, to represent deal details. The use of XML makes it possible to present complex deals such as basis trades, spread trades and asset swaps in a single trade notification, and facilitates integration with third party and client systems.
Geoff Chapman, Chief Information Officer, Tullett Liberty, said: "We continue to see strong growth in demand for our broking services, reflecting the success of our hybrid strategy of using technology to augment voice based trade execution. Post:marker is an important component of this strategy."
Chapman continues: "Providing a comprehensive STP capability allows us to offer our clients the complete service - best execution coupled with efficient settlement and support, backed up by the understanding and relationships that only voice can provide."
Post:marker is part of Tullett Liberty's Market:marker product suite, a range of applications for price dissemination and order and trade management. These include Eurobond:marker, GDR:marker, Gov:marker, IPO:marker, OTC:marker, and Repo:marker.
For press information contact:
Shamira Alidina/Andrea Coleman
Tel: + 44 (0) 20 7959 5450