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Single-dealer platforms should not be confused with single-dealer portals. A single-dealer portal is a stand-alone service provided by a bank for trading a specific set of products in one asset class, and is usually narrow in scope. A single-dealer platform, by contrast, is a broad layer of software
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Initially, most of these single-dealer offerings took the form of stand-alone trading screens that offered trading in just one family of instruments. Many banks developed a large number of such "point solutions," often having nothing more than branding in common. Since the mid-2000s, however, users
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It has become usual for banks to employ a general-purpose SDP framework as a starting point. Such frameworks reduced cost and time to delivery, while still allowing a high degree of differentiation. As a result, few institutions now choose a custom-build strategy.
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or via the
Internet. Offerings of this kind enjoyed rapid success, and by 2005, despite vigorous competition from multi-dealer platforms, surveys showed the majority of clients relying on single-dealer rather than multi-dealer offerings.
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Banks responded to this need by embracing the SDP concept and starting to build more integrated, multi-asset offerings. In the absence of any established frameworks, early SDPs were usually built in an
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to their clients. This was frequently achieved via intermediaries, known as multi-dealer platforms (MDPs), that were formed to deliver pricing and trading from multiple banks.
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of such systems have been expressing a need for multiple asset classes to be tradable through a single platform, rather than having to log into many services.
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suite, it properly refers to the integration and connectivity layer that sits on top of trading, pricing, risk management and other back-end systems.
482:"Consolidation expected as dealer platforms enter new generation | news | Trading & Execution | Brokerage | thetradenews.com"
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448:"Barclays Capital Ecommerce Survey Shows Preference for Single-Dealer Platforms and Demand for Multi-Asset Class Trading Capabilities," 2006
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to deliver a user interface via the Web. By the end of the decade the use of Java applets started to decline sharply, in favor of
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Single-dealer platforms are sometimes also referred to as "single bank platforms". The terms are usually interchangeable.
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SDPs become a major trading channel in the foreign exchange markets, and continue to gain ground in other asset classes.
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that allows a bank to offer integrated information and trading across most or all of its businesses.
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A key aspect of an SDP is that it merges information and services both within and across
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69:. An SDP will typically combine elements such as pricing, trading, research and
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has become the technology of choice for SDPs from 2012 when vendors such as
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began offering single-dealer portals, mostly either via private pages on
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Starting in the early 1990s, the gradual replacement of voice trading by
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within each asset class, and then draw together multiple asset classes.
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466:"Caplin unveils new development environment for bank platforms,"
556:"Single-Dealer Platforms Not Dead as Banks Shape Up for SEFs",
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in the OTC markets created a requirement for banks to provide
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Although the term SDP is sometimes used to describe an entire
506:"Single-Dealer Portals Offer Live Prices to Debt Buyers,"
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Although in principle SDPs are applicable to all types of
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History of
Deutsche Bank Autobahn e-trading offerings
35:to deliver trading and associated services via the
39:. The function of an SDP is to integrate pricing,
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547:"Single-dealer platforms: The final frontier",
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80:, they have so far been most widely used in
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390:"So what is a single-dealer platform?"
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541:The Single-Dealer Platform News Feed
159:(RIA) technologies such as native
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118:Early on, however, banks such as
343:Electronic communication network
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113:screen-based trading services
539:singledealerplatforms.org:
358:Straight-through processing
333:Electronic trading platform
317:Standard Chartered Markets
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392:singledealerplatforms.org
353:Stock market data systems
157:rich Internet application
27:) is software used by an
551:Magazine, 4 October 2012
508:Securities Industry News
560:Magazine, 31 July 2012
21:single-dealer platform
405:"What an SDP isn't,"
348:Retail forex platform
280:Lloyds Banking Group
151:fashion, often using
47:. It is thus both an
520:"My word, my bond",
414:11 July 2011 at the
296:Credit Agricole CIB
49:integration platform
470:, 12 September 2012
320:Standard Chartered
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575:Financial software
524:, 12 February 2010
522:Banking Technology
453:2011-07-07 at the
432:2011-08-12 at the
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338:Electronic trading
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109:electronic trading
71:technical analysis
16:Financial software
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304:Societe Generale
78:tradable security
53:delivery platform
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484:. Archived from
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272:JP Morgan Chase
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175:2012 and onwards
161:web applications
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86:foreign exchange
84:markets such as
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490:. Retrieved
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368:Trading room
264:BNP Paribas
245:BBVA Trader
224:Jane Street
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153:Java applets
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90:fixed income
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301:SG-Markets
169:Silverlight
492:2014-08-19
374:References
293:Jetstream
549:Euromoney
288:Barclays
253:Velocity
229:Autobahn
184:Microsoft
136:Bloomberg
41:liquidity
569:Category
451:Archived
430:Archived
412:Archived
407:Finextra
327:See also
269:Execute
237:Marquee
132:Deutsche
60:etrading
468:FX Week
309:Matrix
261:Cortex
103:History
558:Waters
277:Arena
208:Owner
149:ad hoc
51:and a
285:Barx
256:Citi
248:BBVA
205:Name
180:HTML5
165:Flash
216:UBS
213:Neo
186:and
167:and
130:and
88:and
221:JX
82:OTC
37:web
25:SDP
571::
440:^
382:^
171:.
163:,
126:,
122:,
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19:A
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23:(
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