About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

IHS Markit Teams Up with Wave Labs to Enhance Fixed Income Price Discovery

Subscribe to our newsletter

IHS Markit has partnered with Wave Labs, a start-up specialising in fixed income liquidity sourcing, to accelerate price discovery and deliver insights and operating efficiencies to buy-side fixed income managers. The arrangement involves plug-and-play integration of IHS Markit’s thinkFolio multi-asset investment management platform with Wave Lab’s Electronic Liquid Seeking Application (eLiSA).

Sourcing liquidity in fixed income markets continues to present a number of challenges to the buy side, and investment management firms are looking for increasingly innovative solutions to improve price discovery and gain easier access to liquidity.

“ThinkFolio is a leading and highly capable multi asset OMS, but it is not an EMS,” says Brett Schechterman, global head of thinkFolio at IHS Markit. “While eLiSA is primarily a trading technology, it also marries well with our ethos in that it seeks to address portfolio managers’ requirements from a liquidity and price discovery angle. So several synergies come into play with this partnership.”

Wave Labs was founded in late 2018 by industry veteran Miles Kumaresan, formerly head of trading and FinTech at Nordea Asset Management. The company’s eLiSA product aims to empower true holders of fixed income liquidity to transition from an intermediary-driven to a liquidity-driven market structure. Utilising cloud-based APIs to route orders and complete trades, eLiSA eliminates the need for liquidity venue-provided UIs. It also offers a rich set of both pre- and at-trade analytics, as well as multiple order types, automated liquidity seeking and liquidity provisioning features.

A key aspect of eLiSA is that it fits in with trader’s existing high-touch workflows. “In credit trading, you can’t just focus on electronic execution, because voice still has the biggest market share,” says Kumaresan. “There’s a reason why traders trade the way they do, the nature of fixed income is such that you need to have that human interaction to get good quotes and to trade, so you need to support voice, RFQs and so on, because that’s a fundamentally important way to source liquidity.”

The joint solution is targeted mainly towards buy-side credit desks. “The partnership with Wave Labs will allow us to offer enhanced credit trading capabilities to our current global client base,” says Schechterman. “It’s also exciting to be able to go after new business in tandem through the creation of front-office solutions, rather than thinking solely through the lens of our respective products alone. So thinkFolio and Wave Labs will be going in together and talking to both existing clients and potential future clients and their associated credit desks about the value proposition.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: The emerging structure of the institutional digital assets market

As interest in trading digital assets continues to increase among institutional investors, so too does the need to focus on market structure, regulation and trading solutions. For financial institutions that get it right the rewards will be significant, but it is not necessarily easy and the challenges are many. This webinar will consider how digital...

BLOG

Leveraging Interoperability – Laying the Foundations for Unique Best of Breed Solutions

With today’s traders being surrounded by a multitude of applications on their desktops, including order/execution management systems (O/EMSs), various data analytics tools, news feeds, chat/communication platforms, trade blotters and of course the ubiquitous Excel spreadsheets – most of which need to be used simultaneously – the need for seamless communication between those applications has never...

EVENT

Data Management Summit New York City

Now in its 14th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook – Fourth Edition

Need to know all the essentials about the regulations impacting data management? Welcome to the Fourth edition of our A-Team Regulatory Data Handbook which provides all the essentials about regulations impacting data management. A-Team’s series of Regulatory Data Handbooks are a great way to see at-a-glance: All the regulations that are impacting data management today A...