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iQswaps - convenience trading

iQswaps is icubic’s high-performance solution for electronic swap trading. Market making, swap pricing, as well as the connection to electronic markets, exchanges and data platforms are integrated into one application.
icubic offers a complete solution for pricing, quoting and trading which meets the challenges of electronic swap trading.

overview-swaps

iQswaps integrates the pricing of swaps, quoting of non-binding and binding offers and processing of electronic orders via various electronic platforms. While accomplishing these tasks, it takes the different swap classes from the swap and CDS sectors into account and offers the user a complete picture including inquiries that deviate from the norm. iQswaps convinces with its reliability and definite speed advantages. A modern client-server architecture enables not only an exact, high speed calculation, but also a quick transmittance of prices to the markets in order to ensure active participation. In addition to high performance, iQswaps also offers important security mechanisms which successfully counteract stress situations caused by increased competition.

  • Security
  • Price calculation
  • Limits
  • Hedging

iQswaps - convenience trading

iQswaps is icubic’s high-performance solution for electronic swap trading. Market making, swap pricing, as well as the connection to electronic markets, exchanges and data platforms are integrated into one application.
icubic offers a complete solution for pricing, quoting and trading which meets the challenges of electronic swap trading.

overview-swaps

iQswaps integrates the pricing of swaps, quoting of non-binding and binding offers and processing of electronic orders via various electronic platforms. While accomplishing these tasks, it takes the different swap classes from the swap and CDS sectors into account and offers the user a complete picture including inquiries that deviate from the norm. iQswaps convinces with its reliability and definite speed advantages. A modern client-server architecture enables not only an exact, high speed calculation, but also a quick transmittance of prices to the markets in order to ensure active participation. In addition to high performance, iQswaps also offers important security mechanisms which successfully counteract stress situations caused by increased competition.

Security mechanisms

Some of the available checking functions:

  • Market data filters: plausibility checks on incoming data
  • Tolerance limit checks: avoid risk caused by typos
  • General warnings: e.g. in the event of calculation jumps
  • comprehensive plausibility checks

In addition, there are also security mechanisms that can be manually operated by the trader. By using the “panic buttons”, the trader can take one, more than one or all quotes simultaneously from the market. If need be, these quotes can then be sent back to the markets using the same function.

Integration of price calculation functions

iQswaps provides its own calculation functions for standard swaps and CDS as well as a direct interface for integrating your own calculation functions. iQswaps thereby connects the knowhow of icubic AG with the intellectual property rights of our clients.

Limits

Take advantage of the limit setting possibilities via our integration of limit systems. The limits can be received in real-time so that after a trade has been executed, the new transactions are sent to the respective downstream limit system by iSettle and are included in the limit calculations.

Hedging

Make use of the integrated semi-automatic and automatic hedging functions available in iQswaps. Via the electronic connections to Eurex, Liffe and ICE, you can execute a direct hedge of your swaps with iQswaps. iQswaps also offers a semi-automatic hedging function. After a swap trade has been executed, the required information is presented in an order pop-up window so that it can be manually confirmed and sent to the hedge market. With the automatic hedging function, iQswaps sends the hedge orders directly to the hedge market without manual intervention.

It is also possible to execute a hedge once a certain nominal value of swap trades has been reached in iQswaps. A hedge matrix is provided for this purpose which shows the number of hedge contracts for the position.

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