WIC

Limit Your Operational and Execution Risk.

Experience the non-disruptive, technological enhancements to the BWIC/OWIC process.

The WIC Platform semi-automates BWIC/OWIC administration, whilst respecting the current Dealer/Client information and value chain. It enables all parties to experience a streamlined version of various aspects of the existing process. Additionally, it is designed for multi-asset class adaptation.

Relationship-based Transaction

Access to a BWIC page will be derived from your relationship with either the Originator or an Invited Dealer. 

 

Relationships are established by a one off, “Facebook/Insta” type invitation once established, parties will be able to see all future BWICs distributed by that party.

WIC replicates the current information & value chain

  • Looks, smells and tastes like the existing Excel process.
  • Retains the originator’s choice of dealers through which the WIC is distributed.
  • Allows bidders to directly input their own bids and route them through their choice of dealer(s) from the list of which were invited by the originator.
  • Retains the dealers’ role as the conduit through which information and trades flow.
  • Maintains client confidentiality throughout all stages of the auction.

What you get

Dealers

  • Enhances data on all WIC assets that are traded through the desk.
  • Significantly reduces Front Office administrative involvement in the WIC process, freeing capacity to focus on the markets.
  • Dramatic decreases in the desk's operational risk versus traditional, spreadsheet-based WICs.
  • Shortens the time between submission and execution, and therefore, potential market moves during that period.
  • Improves record-keeping and compliance monitoring of all of the WIC information flows.

Originators

  • Provides a complete landscape of all market liquidity for your WIC.
  • Meaningfully reduces the administrative burden of the WIC.
  • Increases the speed of execution which should result in better execution.
  • Reduces operational risk.

WIC Participants

  • Shortens the time for which bids/offers must remain valid and therefore subject to market risk.
  • Offers full visibility of bid/offer submissions
  • Provides the full liquidity depth for assets won instead of simply the cover as traditionally provided on spreadsheet based WICs
  • Instantly disseminates Cover levels.

Technology powered by

Coefficient Markets developed the technology and workflow solutions in partnership with Etrading Software, a London based technology and managed services firm that specialises in building and managing multiparty financial workflows and technology, across the Fixed Income Market which solve for the challenges of the existing and future state of the market.

Coefficient Markets leverages Etrading Software’s technology development, platform business management, deep knowledge and expertise of the financial markets to deliver intuitive front office solutions, that can be seamlessly tailored and scaled across asset-classes and regions, to deliver for our clients.

Key features

Originators will gain access to ALL BIDS submitted during the BWIC

Greater transparency on BWIC economics

Originators will have option to share information with winning Dealers and even winning end Bidders

Greater accuracy of Cover prices and timing of release of cover prices

Instantaneous calculation of Best Execution options

Data Analysis at back end

Find out how our solutions fit your needs.

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