It will also provide them with aggregated views of market-level activity for benchmarking and performance measurement. It s a chore, says Duncan Johnston-Watt, Instinet s managing director of fixed income technology, in London. The answer to that is to give the clients business intelligence so they can trigger around with the data to their hearts content, and they can integrate it with their own systems the way they want. Demand for such information will be high among traders, as bond markets evolve from telephone transactions to electronic transactions. They want every single datum of information that we have, Johnston-Watt says.
Investment banks are just voracious for information.
We d much rather give the clients the capability to do it themselves. It s a very simple idea, but it turns out to be profoundly powerful. The data warehouse that clients will access through the extranet is also used internally by about 200 Instinet staff members, including brokers, sales-people, and marketing personnel. It provides the brokers with an easy means of monitoring client activity. Giving customers access to data frees staff from menial data access tasks.