Increases Reliability and Price Transparency
From a Request for Quote to Post-Trade Communications,
One System Translates All Languages
New York, N.Y., June 21, 2005 â Kestrel Technologies, Inc. today announced that it has launched Qwik KonneKTÂ®, the first shrink-wrapped connectivity tool, that will increase efficiency and productivity in fixed-income securities trading by significantly reducing software installation fees and minimizing costly trade errors.
Qwik KonneKT is a revolutionary solution that functions as a âuniversal translatorâ capable of linkÂ¬ing a wide range of different financial systems, resulting in a simple and innovative gateway appliance that is fast, reliable and exceedingly economical. Qwik KonneKT is easily and quickly installed in a standard PC by means of a bootable CD ROM and an encrypted USB keychain storage device.
In a roughly 15-minute self-installing process, Qwik KonneKT creates a file system on the machineâs hard drive to store persistent data and audit trail information. The product then perÂ¬forms a series of initial configuration steps based on the contents of the USB key device. Once these operations have been completed, Qwik KonneKT customers can set up and test the system via an Internet browser.
Qwik KonneKT translates across all systems languages, proprietary and those of ECNs (Electronic Communications Networks) such as MarketAxess, TradeWeb, Bloomberg and Bond Desk. A link to ValuBond is currently in the works.
Qwik KonneKT also facilitates the ability of traders to meet regulatory mandates for greater price transparency and real-time trade reporting. Global investors enjoy transactional efficiency in the form of tighter spreads, more liquidity, and fewer failed trades.
"The complexity of the bond market, with its wide range of financial instruments and necessary supporting detail, has made it more difficult to translate to an electronic medium, and to find a way to break through the balkanization of languages used. Typically, linking different financial computer systems has been handled in a one-off fashion for each new link, a process that firms often spend weeks or months trying to complete," said Edward Bishop, CEO of Kestrel Technologies.
"Qwik KonneKT greatly simplifies this process," he noted. "By reducing the problem to a simple plug-and-play exercise, Qwik KonneKT will have a significant impact on transforming connectivity in the fixed-income market. In fact, this product should do for connectivity what interÂ¬changeable parts did for manufacturing â revolutionize the whole ballgame."
Mr. Bishop added, "The lack of seamless connectivity in the fixed-income market is particularly problematic now, as a perfect storm of regulatory and economic forces is driving firms to become more efficient. The key is system interoperability. In view of this, the potential value of a universal translator like Qwik KonneKT is tremendous."
"Kestrelâs Qwik KonneKTâs connectivity solution significantly outperforms other products in speed, monitoring capabilities and flexibility," said Craig Berman, Vice President of Technology at Jefferies & Company.
Kestrel Technologies will be exhibiting Qwik KonneKT and other highly specialized solutions for the fixed income securities markets at the Securities Industry Association Technology Conference (Booth #4103) at the New York Hilton in New York City, June 21-23.