FX Trading

Case Study: FX Trading- Global Bank Rapid filtering for real time decision support

One of the world's largest banks in foreign exchange trading uses Omniscope to allow traders to visualise trading patterns of counter-parties across multiple trading windows and many possible currency pairs.

Challenge:

• Clients trade through multiple systems, fragmenting data on trading patterns
• Thousands of requests for quotation (RFQs) are generated every day
• Data warehouses can consolidate RFQ data, but how to deliver information to traders?
• Traders needed to see historic RFQ data on desktop to analyse patterns in real time

Omniscope Solution:

Omniscope was used to merge existing spreadsheets into prototype reports for user testing.  Busy users engaged with the project from Day 1, working with visual, interactive reports before the data warehouse was even designed.

-Four daily Omniscope template report files were defined and fully user-tested. -Automatic daily refresh of reporting views implemented in data warehouse. -Omniscope Enterprise Scheduler automatically refreshes all reports overnight and e-mails them to traders. -Traders now see and filter multiple views of data in real time, switching between visualisation of clients, currency pairs and trading windows with one hand and very few clicks.

Omniscope reports are easy to personalise, and include large volumes of granular RFQ data that can be analysed in detail for other purposes.

Next steps: The new Omniscope automatic refresh function will be implemented to eliminate the need to send updated files to trader desktops, moving the system closer to real-time.


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