FlexTrade and Propellant Digital have collaborated on actionable pre-trade insights for T.Rowe Price’s fixed income trading teams.
Andy Mahoney
Specifically, T.Rowe Price is live on Propellant’s Digital’s fixed income transparency data offering via FlexTrade’s fixed income EMS, FlexFI.
Speaking to The TRADE, Andy Mahoney, managing director, EMEA, FlexTrade, asserted that the firm has seen the adoption of EMS solutions on fixed income trading desks continue to grow this year, with expectations for this to accelerate further into 2025.
He adds: “The drive for this deployment is twofold. Firstly, the continued electronification in fixed income and the need to handle increasingly sophisticated data sets have seen desks needing technology to handle their bond trading activities efficiently.
“Outside of this, we also see broader-scale transformation initiatives to rationalise and streamline multiple asset class-specific EMS solutions to a single, scalable platform to provide a common set of cross-asset tools, processes, and automation logic across equities, fixed-income, FX, and derivatives trading.”
Propellant Digital’s solution is used by both global and regional banks, as well as asset managers, quant hedge funds, trading venues, regulators, and industry associations.
Through the availability of Propellant’s insights alongside other internal and external data sources within a single interface, FlexFI users benefit from enhanced processes “without leaving the context of their fixed-income trading blotter,” said the firms.
Specifically, T. Rowe Price’s fixed income trading teams can now view a comprehensive dataset within the FlexFI Order Blotter, which includes real-time market activity, historical trade prices, and aggregated trade volumes.
Vincent Grandjean, chief executive of Propellant Digital, tells The TRADE: “Integrating our pre-trade analytics into FlexFI EMS allows their team to access a full market view without leaving the order blotter. In addition, our technology can support them in both TCA and research efforts. Our solution is well-placed to help firms like T. Rowe Price stay ahead in their data journey.”