Trayport, the leading supplier of real-time, multi-asset-class electronic trading platforms, today announces that Murphy&Durieu ('Murphy'), an Inter-Dealer Broker serving the financial services sector in New York and London, has launched an initiative serving traders of Asset-Backed Securities ('ABS').
Murphy's ABS desk is rolling-out Trayport's GlobalVision platform for real-time electronic price distribution to its customers as an added service to its existing brokerage operations. The new system will significantly improve the communication of prices to the traders, providing them with streamlined access to price information including market depth and price history across Murphy's full inventory of ABS prices. It will also facilitate easy integration with the traders' internal pricing spreadsheets and tools.
"Responding to requests to increase the sophistication of our service to key price makers in the ABS markets, we decided to invest in proven Trayport technology used by brokers and accepted by traders worldwide" said Mike Palmieri, structured product manager of Murphy. "We are pleased to be the first broker to step out and serve this market. Our screen, enhancing our existing levels of service to our customers, should accelerate transaction opportunities, increase overall trader confidence and drive volume in this increasingly active asset class."
Tom Zikas,vice president of Trayport Americas, said: "The management and brokerage desk at Murphy have shown real leadership in seeking to better serve the ABS market. We are pleased that they have chosen our GlobalVision platform as their primary tool for engaging the price makers and price takers in the market. Their initiative and confidence adds further credibility to our technology's reputation as a highly configurable, multi-asset class technology solution for global over-the-counter markets."