The Alternative Connection

SFT's publisher Justin Lawson sat down with Trading Apps to discuss our latest trading option.

At Trading Apps, we are always working on new and innovative ideas to deliver to market. We feel we have some of the smartest brains in the industry and TA.Link is the latest we are bringing to market. TA.Link is an alternative way to communicate trading activity between securities finance participants.

TA.Link has a single monthly cost payable when the service is available to use, so there is no initial minimum set-up cost and no per trade or volume costs. TA are not party to how existing services charge, but it has been indicated to us that we would be approximately 10 per cent of the current average cost.

It is a fixed monthly cost which is the same for all participants.

We mitigate the risk to a participant of relying on a single messaging service by offering an alternative. TA.Link messages are fully end-to-end encrypted using industry-leading technology and, as such, are far more secure than email. Using AWS cloud-based services, TA.Link runs on multiple servers located around the world with instant failover in a disaster recovery situation.

Like other messaging services, we provide an API to send and receive messages and this allows a participant to build an interface to this API from their own systems. We also provide a secure web-based GUI for participants to enter and receive requests through a screen with a download option to then input completed trades into their own systems. We provide some ‘out of the box’ gateways directly into the most commonly used systems. And, finally, if the participant has any Trading Apps tools, then these seamlessly integrate with TA.Link without any changes required.

It’s faster, easier to connect to, more cost-efficient and, with the plans to build out lifecycle events, it will offer richer functionality that serves the whole global market across equity and fixed income.

Link.Trade, which is the first phase of TA.Link, allows a lender to publish loan availability, either via the API or displayed on the GUI. The borrower can then respond directly to this availability to request a borrow, or they can enter a needs list directly.

The borrower can either request an availability check from the lender or a firm request, where the lender can accept and book the trade if the borrow request is accepted. The key lifecycle events are re-rates, recalls and returns, which are the next phases of TA.Link. This will allow full automation of these events, which are often overlooked and usually sent by email, despite them having an element of trader negotiation (especially re-rates).

TA uses AWS as its cloud service provider, which offers world-class security and scalability at an affordable price, allowing this affordable price to be passed onto participants. Cloud-based SaaS allows participants to join easily, without a complicated set-up. They pay monthly, so there is no upfront commitment, and they can be confident that the service will scale as the number of participants and transactions increase.

Streamline your trading

Let’s set up a 30-minute video call to discuss your company’s requirements. 

Then, we’ll work with our team to bring you a product demo, designed to show you what’s really possible.

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