Harmoney announces the launch of a new trading protocol, Inquiries, designed to bring the best of voice markets on-screen. The protocol fosters greater efficiency and fairness for clients and dealers.
Harmoney's vision is to digitize bond trading to make it accessible, transparent, and efficient, and the launch of Inquiries catalyzes this vision by replicating phone or chat based trading with the advantage of anonymity and privacy in negotiations that only screen based trading can bring.
Benefits of Inquiries
Inquiries by Harmoney was designed to address the inherent inefficiencies of the OTC bond trading method. Our platform directly connects dealers with clients while maintaining anonymity. This eliminates potential biases associated with traditional methods, streamlines the trading process, and promotes fair practices for all participants. Here's how Inquiries achieves these benefits:
- Increased Opportunity: Inquiries provides access to a wide pool of participants, increasing the chances of finding the right counterparty for your bond trade. This expanded pool translates into more deal opportunities and potentially better trade terms.
- Anonymous Participation: Unlike phone calls, inquiries are anonymous, ensuring that all clients get the same treatment independent of their size or influence. This creates a level playing field, promotes fair competition, and improves price discovery.
- Private Negotiations: Inquiries safeguards price disclosure to competitors by ensuring price confidentiality throughout the negotiation process between clients and dealers. This fosters confidence and the potential to secure better deals.
- Single-Screen Efficiency: Inquiries consolidates information for bond trading under a single screen displaying the best available buy and sell offers. This simplifies decision-making by enabling participants to negotiate, compare deals, and make informed decisions without switching between multiple calls that are required in traditional trading.
How Does Inquiries Work?
Inquiries streamlines bond trading in four steps:
- Clients specify their desired bond via WhatsApp or the screen
- Inquiries protocol connects them with the relevant dealers
- They negotiate anonymously within a set timeframe and,
- Client/dealer executes the trade electronically for a smooth transaction
Here’s a video explaining how Inquiries work:
Inquiries by Harmoney redefines the bond trading experience. With its focus on simple, effective, and private negotiations, Inquiries empowers both clients and dealers to navigate the market with greater confidence.
Explore how Inquiries works on our platform today, and get in touch with your Relationship Manager or contact us for any questions or follow-ups at sales@harmoney.in