Euronext: MTS Launches Dealer-to-Client Ticket Protocol

The move is designed to streamline fixed-income trading workflows.

The firm explained that BondVision is a multi-dealer-to-client trading platform for rates, credit, and repo. 

The DCT protocol, which was developed within the BondVision Partnership, is said to enhance trade processing by automating workflows between dealers and clients, reducing manual entry, and improving Straight-Through Processing (STP). 

Developed within the BondVision Partnership, which includes major dealers shaping the platform’s roadmap, DCT enables dealers to send processed trades via API, minimising operational bottlenecks.

“DCT has been specifically developed as part of the BondVision Partnership and provides an elegant, functional solution to support our strategy,” said Angelo Proni, CEO of MTS.

The firm explained that the protocol allows dealers to book risk immediately in their internal systems and dispatch processed trades to clients. 

Clients are expected to benefit from reduced operational risk and seamless execution, as the system eliminates manual trade entry.

For Sovereign, Supranational, and Agency (SSA) and government bonds, DCT enables pricing to five decimal places, aiding the processing of basis trades. 

Patrick Whelan, Global Head of FICC Digital Markets at JP Morgan, said: “By automating process trade workflows, dealers can now focus on delivering service to clients, ultimately improving our capacity to serve clients with greater precision and speed.”