OTAS Technologies (OTAS), a provider of market analytics and trader intelligence, has announced the launch of Intraday Lingo, an extension of its existing Lingo natural language reporting technology.
Finance Magnates last reported on OTAS Technologies back in June last year after it partnered with Wall Street Horizon to allow its institutional investment and trading clients access to corporate event dates and financial information via OTAS’s Portfolio Analytics application.
OTAS Intraday Lingo pairs Lingo’s automated natural language with its microstructure charts to provide a textual report identifying intraday moves and alerts, both in real-time and historically.
The tool provides analyses and valuable insights for the entire trade lifecycle including pre-trade, in-trade and post-trade for both traders and compliance departments.
With Intraday Lingo, traders are presented with an alert-driven timeline of intraday events to build a narrative of what happened during the trading day with a verification option through clicking on each entry and inspecting the microstructure.
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The functionality focuses on assisting traders in managing regulatory, compliance and best execution obligations by essentially creating an audit trail and tracking every decision made during each trade. With real-time alerts, the software also assists the trader in capturing risk to act accordingly.
MiFID ll Solution
OTAS Intraday Lingo specifically addresses best execution post-trade analysis requirements relating to MiFID II which means that both traders and risk officers can quickly and easily access OTAS Intraday Lingo reports, which summarise the important events of the trading day for a security.
Additionally, OTAS Intraday Lingo provides standard TCA metrics and includes the context of the market dynamics over the life of the order, making it easier to understand the whole situation, including out of the ordinary occurrences.
Tom Doris, CEO of OTAS Technologies, commented: “Today’s traders are already faced with an immense amount of data to sift through while making trading decisions. Traders make hundreds, if not thousands of trades daily, sometimes with only a fraction of a second to make those decisions.”
Having OTAS Intraday Lingo means that risk and compliance teams can review trades in a few seconds, rather than minutes or hours. Traders are able to go back and recreate market conditions that day to show why those decisions were made for regulatory and compliance requirements.
Intraday Lingo keeps OTAS clients ahead of the forthcoming regulatory mandates while ensuring that they continue to trade at their best.