Retail Bond Trading

This dynamic program maintains a listing of inventory positions and offerings to the sales personnel. Nightly functions are performed so the latest customer account holdings are available, including all valuations, redemptions, coupon payments and cash positions, as well a proprietary account positions with a repricing module so yields and offering price are recalculated based on settlement date. A backend fixed engine program creates a facility whereby a trade is automatically sent to Bloomberg and once executed a confirmation is received into this application. During the trading day, inventory positions are maintained via Bloomberg reported data and offerings readjusted accordingly. Reporting allows the salesperson to become proactive in soliciting trades via a number of options, most importantly by calculating redemption of bonds and coupon payments, available cash can be applied to potential sales. Other reporting facilities include monthly positions with Profit and Loss and evaluations from prior dates needed to settle estates. Due to FINRA regulations, a percent markup from buy/sells is monitored and approved by the trader for all trades using a Fifo basis. A tool to create swaps (i.e. potential sells of positions with buys of principal account holdings) is utilized extensively to solicit trades, thereby strengthening a customer’s account.