CATEGORISATION
Your business and support staff can use DUET to categorise Customers and Instruments (bonds and interest rate swaps) very quickly and easily. This can be done using more than one categorisation scheme if desired, in a centralised way that is independent of any particular electronic trading venue.

TRADING RULES DEFINITION
Using these categories, the business can easily view and set the basic rules governing:

the conditions for auto-replying to customer inquiries
what price adjustments to make when determining the price to respond to customer inquiries (RFQs)
the conditions for automatically accepting customer price orders
the conditions for rejecting customer inquiries and orders
which traders to alert with customer inquiry activity

RULES FOR QUOTE STREAMING
DUET links these rules to the quotes being streamed to the market venues for display on their pricing screens. For example, the widening/narrowing of the quote bid/offer spread relative to your source pricing system relates to the customer categorisations in place and how those categories link to the pricing levels supported on the market venues. Whether the quotes are shown 'Firm' on customer screens relates to what rules are in place for automatically accepting customer price orders.

ADVANCED TRADING RULES
DUET allows you to define the rules in a more advanced way, that additionally defines what happens when:

the customer involved in an RFQ has a Hit Ratio with your bank that is below their specified Hit
Ratio target
the trader is Axed to buy or sell a bond
a trade has just happened in a given bond or interest rate swap and so a Hit Reaction condition
is in force for a specified time period

GLOBAL, CROSS-DESK SETTINGS
All of this can be defined separately by your different trading desks, all independently of each other, even if several trading desks share the same market venue connectivity solution. Your definition of the trading desks can be at whatever level of granularity that meets your needs. Trading Desks can also be defined as multi-region, allowing for a 24x7, follow-the-sun offering to customers. All settings are defined using business terms and concepts that are independent of particular market-specific nuances or technical implementations.

UNIFIED REPORTING
DUET provides unified reporting for all the electronic inquiry activity, using the standardised customer and instrument categorisations and standardised activity data. Because all data is unified, reports are the same regardless of market venues and can be viewed and combined across multiple trading desks and regions if needed.