Natwest Markets Rolls Out Ipushpull

Live data sharing and workflow automation provider Ipushull says Natwest Markets has implemented its newly launched PPQ (Pushpull Quotes) workflow solution that streamlines manual workflow around non-standard, complex trades.

The move is evidence of the gathering pace of innovation in more complex products after HSBC rolled out a chatbot for FX options recently. Ipushpull says PPQ standardises and automates the negotiation process around these trades and uses financial networks like Symphony and standardised syntax within private bilateral chats to allow trading and sales to communicate detailed pricing and quote information.

Chatbots can interpret key data within those messages, display them within a custom application and allow the user to drive the workflow from a single screen. Data mapping transforms incoming and outgoing data into the required format, creating an extensible solution to interoperate between new and existing standards. The inclusion of structured data objects within messages, containing instrument definitions, event descriptions and a wealth of other metadata, can further aid automation of pre-trade workflow.

Such a development is likely to be most valuable in the options space where clients and service providers will be able to play around with details of structures, in real-time, and both see the impact of changes without file transfers – a development that has been growing for some time now.

At the same time as the deal was signed with Natwest Markets, Neil Weatherall has been hired from that institution to lead technical sales and PPQ product development at Ipushpull. He started his career at Natwest in 2002 and went on to become head of GBP Inflation trading before moving to RBC Capital Markets in the same role.