Private Label ServicesTMC Bonds builds customized desktop applications for registered investment professionals and the retail investor public. Private label offerings include both the Advisor Workstation and Client Investor Portal.
The Advisor Workstation offers an array of wealth management functionality for commissioned brokers, dually registered financial advisors (aka hybrids), and fee-only independent RIAs. This functionality includes:
Advisor’s fixed income orders—either single or multiple cross asset—can either be routed to (i) TMC Bonds’ marketplace for auto execution or (ii) a firm’s fixed income traders for "review & release". Clearing brokers can have orders routed to them in the absence of a correspondent’s own trading desk.
For more sophisticated implementations, TMC Bonds works with our clients to:
link to their Rules Engines (e.g., funds availability, order validation) and to Back-Office systems for true end-to-end STP,
seamlessly integrate with clients’ holdings, and
implement "industry best practices" to better adhere to ever-changing compliance and regulatory requirements.
The Client Investor Portal incorporates retail-friendly graphics and search tools. Broker Dealer customers use this web-based tool for new client solicitations as well as to serve existing clients with timely market color. Optional functionality--beyond view only--includes implementing full order entry and execution routing--again with all of the benefits of full straight through processing (STP).
TMC Bonds' Trader Workstation offers live and executable access to two-sided markets for all taxable and tax-exempt securities. Commingled content from hundreds of buy-side and sell-side firms is available intraday that can approach 210,000 two-sided line items exceeding $100 billion par value. The Trader Workstation serves traders, sales liaisons, compliance/supervisory staff as well as buy-side portfolio managers and analysts. The Trader Workstation avails users of a number of specialty modules including:
Best of breed Third Party Sources (MMD, MMA, TKG, YieldBook)
Intraday best execution, trade surveillance & compliance reports
Municipal bond insurance
Proprietary TMC Bonds trader insights
Real-time, intraday and historical market analytics (leveraging EMMA, MSRB, and TRACE)
Secondary and New Issue/Syndicate offerings
IMS+ Inventory Management application including full Trader P&L and Risk modules
IdeaStream (decision support "push" based analytical tool)
Municipal Auto-bidding Service (invitation only)
Unlike our main competitors, TMC Bonds does not charge for the base Trader Workstation—reinforcing our need to have the broadest possible inventory with actionable prices. Otherwise, we do not get compensated! As such, TMC Bonds is aligned with our clients' needs.
Trade Aways—an additional distinguishing characteristic of the TMC Bonds platform is the ability for clients’ traders to select alternative venues for trade executions routed from our Advisor Workstation and Client Investor Portal orders. Should TMC Bonds’ marketplace not have the best price, firms can seamlessly trade-away. Thus, TMC Bonds is not a captive platform and helps our clients meet their best execution and fair & reasonable regulatory requirements. Order entered "away" include indentifiers so that back-office clearing as well as recording of data for post-trade analysis is available. Overall, TMC Bonds' platform is not a closed system.
TMC Bonds also offers Market Data feeds via application programming interfaces (API) covering bids, offers, and bids wanted. APIs can be enabled for all products or a subset (e.g., Corporate bonds only). TMC Bonds can work with your internal IT department, or selective third party vendors to implement and test the market data feeds.