Natwest Markets Trading Desk Adopt PPQ from ipushpull
By Katya Mironova
ipushpull launch PPQ workflow solution, now adopted by NatWest Marketsand hire former head of GBP Inflation Trading
London, UK – 09 January 2021: ipushpull, the live data sharing and real-time workflow automation platform are delighted to announce that Natwest Markets have implemented their newly launched PPQ (Pushpull Quotes) workflow solution that streamlines manual workflow around non-standard, complex negotiations. At the same time, Neil Weatherall has been hired to lead technical sales and PPQ product development.
PPQ is a pre-trade workflow tool which standardises and automates the negotiation process between the buy and sell sides. Using financial networks like Symphony and standardised syntax within private bilateral chats allows trading and sales to communicate in a better way.
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 the automation of pre-trade workflow.
Natwest Markets plus a further three top-tier banks and one of the largest UK asset managers are already using PPQ and with a strong pipeline of interest, including further customers expected to adopt PPQ early in 2021.
Matthew Cheung, CEO of ipushpull, comments: “We are seeing a massive acceleration of digitisation in capital markets. A convergence of live data sharing, chatbots and the cloud means pre-trade workflow for non-standard complex trades can now be streamlined. ipushpull allows both the buy side and sell side to take advantage of this.”
Neil Weatherall has joined Pushpull Technology following a long career with Natwest Markets and RBC Capital Markets. Neil started his career at Natwest in 2002 and went on to become Head of GBP Inflation. Rapid growth in the LDI industry and hedging programmes saw trade volumes increase exponentially across a diverse client base and as a result, Neil has overseen large-scale changes in the technology employed to price, book and manage trades.
Neil Weatherall, Head of Technical Sales, ipushpull, adds: “I’m excited to join ipushpull at such a time of momentous change in working practices across financial markets. Eliminating manual processes, creating standardisation and improving efficiency are paramount. There are a significant number of complex instruments or package trades where the Pre-trade negotiation process is ripe for digitising and enhancing through our PPQ service. I’m looking forward to helping our clients move towards frictionless and seamless workflows, providing higher quality data and intelligence around their trading activities.”
About ipushpull ipushpull is a capital markets fintech providing a live data sharing and workflow automation platform. Solving for the complexity around data sharing – we unbundle data sitting in emails, spreadsheets or file shares and bring that data back together into a structured workflow alongside manual tasks previously spread across different applications. Data drives financial markets however data sharing has hardly changed for decades. Our goal is to improve human decision-making by taking the heavy lifting and manual administrative tasks away and leaving people to do the things only people can do.