List Delivers an Integrated View of Bond and CDS Positions to Evaluate in Real-Time Credit Risk Exposure

9 December 2008

List, a leading technology provider, today launched front office system, FMR Position Keeping, providing market makers with an integrated and real-time view of their positions across interest rate futures, credit default swaps (CDS) and bonds. Seamlessly integrated with FastTrade, List’s multi-asset class trading platform, this front-office solution connects traders directly to Europe’s electronic exchanges, enabling immediate reaction to both over-the-counter (OTC) and exchange-based market movements.

Enrico Melchioni, FMR CEO, comments: “Credit default swaps have been in the spotlight during this year’s global financial market meltdown and financial institutions are more aware than ever of the need for an accurate and real-time view of their exposure to interest rate and credit risk. Our new FMR Position Keeping system provides an integrated, real-time view of aggregated bond and CDS positions enabling traders to react quickly to market opportunities and threats.”

Developed by FMR Consulting, List’s financial mathematics division, the solution offers real-time calculation of profit and loss, net revenues from funding, risk exposures, durations and benchmark equivalents.

The FMR Position Keeping system shares a common interface and is fully integrated with FastTrade’s components. In particular, integration with FastTrade’s pricing and auto quoting engines ensures data consistency and enables traders to control pricing, view positions and connect to multiple trading destinations from a single window.

Melchioni adds: “With pressure to trade CDS products on regulated and transparent exchanges, there is an increasing need for a system such as FMR Position Keeping to automatically aggregate OTC or exchange-based deals and provide an enterprise-wide view of pre- and post-trade risk, via a single interface.”

FastTrade’s single interface manages the peculiarities of each asset class. On top of this, a range of customisable modules also support pre- and post-trade risk. FastTrade’s pricing engine, FMR Pricing System, automatically prices hundreds of different instruments in a multi-market environment and its calculation engine, FMR4000, offers a financial calculation library and a dedicated database system for pricing and risk management calculations.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development