Mostly… fixed income and cross product eTrading

December 7, 2006

Singledealer/Multidealer

Filed under: etrading, Nuts and Bolts — holky @ 12:29 pm

A thought that surfaces each time I see comparisons of singledealer/multidealer systems.

I’m not convinced that reports telling us how popular singledealer systems still are in the fixed income space are correctly classifying singledealer / multidealer systems.

In terms of system, a customer looking at a multi-dealer view (eg ALLQ) to see all of the autoex pricing available to them but then sending their order or inquiry through to a single dealer is clearly very different to where a customer can only see and trade on a single (and specific) dealers pricing. 

The comparison of singledealer orders -v- multidealer inquiry is of interest within each multidealer system (which supports both), but that’s comparing the order type, rather than the system itself.

When was the last time you saw this breakdown used in a report/presentation?

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