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Trading Teams: Streamline Your RFQ Workflow Through FactSet’s Portware Integration
Today the current RFQ process is lengthy, with multiple opportunities for error along the way. Putting out an RFQ, waiting, and gathering responses is often done through multiple platforms, phone, and email. With FactSet’s latest Portware Chat RFQ integration with Symphony, this workflow is dramatically simplified by bringing the experience together on one platform.
With the Portware integration, traders can:
- Modify workflows and use Symphony to quickly send out an RFQ to multiple parties
- Reduce potential errors by communicating electronically through Symphony
- Enable brokers to respond in the same place , rather than via phone or email, and not have to manually enter values into a form or external system
Mary, a trader, can automatically post RFQs through Portware to Symphony chats. Brokers will get a financial object that they can respond to through an integrated Portware form. All proposals are sent privately back to Mary in a curated feed. This way, she can identify and select which price she wants to accept, knowing that all details are accurate and secure.
Once a price is confirmed by both Mary and her selected broker, the necessary trade information is sent outside of Symphony to Portware to be executed. After the trade is executed, trade confirmations can be sent via Symphony in real time.
By running the full RFQ workflow through a single platform, traders and brokers reduce potential errors and stay more organized.
Watch
Johan Sandersson, VP, Principal Product Manager of FactSet, and David Landisman, Product Manager at Portware, discuss their new Portware Chat RFQ integration with Symphony at Symphony Innovate 2017. View the
slides
to learn about this integration as well as FactSet’s upcoming innovations.
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