Thomson Reuters Launches Fixed Income Trading Application for African Bond Markets

Thomson Reuters has launched Fixed Income Callouts, a flexible and transparent App on the Eikon platform that facilitates the negotiations and agreements of fixed income bond trading terms within banks in country and across African markets, improving price discovery, market monitoring, execution and market transparency.

Fixed Income Callouts has been specifically built for African market requirements, and provides a clear transaction trail and integration into the clients’ back office and market monitoring systems. It formalizes conversations currently performed over messaging platforms, or over the telephone, but with added record keeping, validation and controls.

“African bond trading holds huge potential to deepen financial markets and drive investment. Challenges for traders today include, reliable price discovery, market monitoring, execution uncertainty, speed of trade tickets, and ambiguity such as settlement differences,” said Sneha Shah, Managing Director Africa, Thomson Reuters. “Callouts provides an automated way to capture and disseminate the details of negotiated trades, as well as to report on market trends, direction and pricing over time.”

Callouts enables bond price / yield discovery. It enables the user to ask multiple counterparties for bond prices, fostering transparency and efficiency. The development complements the Thomson Reuters wider Fixed Income offering. The resultant benefits are real-time data from these markets, enabling investors to make decisions based on accurate, reliable and trusted market data. Moreover, all of this is a value-added service available to our existing FX clients.

“A significant feature of the app is the central view of transaction activity across the market for the use of regulatory oversight and monitoring of activity,” said Malcolm Collins, Head of Fixed Income Market Development for Emerging Markets at Thomson Reuters. “It enables governance and oversight by regulatory bodies and central banks and helps support compliance for back and middle office users.”

The app provides trade confirmation tickets, trade downloads and the availability of real time post trade feeds direct into back office systems to support STP (Straight Through Processing) needs. Errors and delays are reduced, improving efficiency at all stages of the trade lifecycle and reducing operational risk. The applications scalable, easy to use and fit for purpose design makes it attractive to Fixed Income dealers across Africa.