Sales Intervention Architecture

The page describes the components in the Sales Intervention workflow, and provides a brief overview of the process of implementing Sales Intervention in your own system.

Contents:

Terminology

The following components play a role in the Sales Intervention workflow:

Quote ticket
A trading application ticket used by a client to submit a request for a quote. The trading application could be Caplin FX Professional, Caplin FX Mobile, or other single-dealer platform (SDP) or multi-dealer platform (MDP).
Sales Intervention interface
The Caplin FX Sales interface elements that enable sales traders to monitor automatic pricing and to intervene as required.
Quote handler
Your code within a Caplin Platform integration adapter that handles the provision of RFS quotes, including the coordination of quote pricing and risk assessment. The quote handler integrates with Caplin FX Suite applications through the Caplin FX Integration API, and integrates with backend systems through proprietary libraries.
Risk system
A backend system that assesses whether a client's quote request can be automatically priced.
Pricing system
Calculates an automatic price for a quote, taking into account such factors as the prevailing market rate, the client's default margin, volume bands, and forward points.

Workflows

This sections compares the workflow of two successful trades. In one trade the quote can be priced successfully, and in the other trade the quote could not be priced automatically, but the through intervention of a sales trader, the trade could proceed.

A quote that can be priced automatically 

A request for a quote that can be priced automatically proceeds as follows:

  1. A client makes a request for a quote using a quote ticket in their trading application.
  2. The quote handler sends the parameters of the quote request to both the pricing system and the risk system.
  3. The pricing system calculates a price and returns it to the quote handler.
  4. The risk system determines that the trade can go ahead and returns a positive response to the quote handler.
  5. The quote handler returns the price to the quote ticket.
  6. The client accepts the price.
  7. The trade executes successfully.
  8. The client is informed that their trade has completed successfully.

A quote that cannot be priced automatically

A request for a quote that cannot be priced automatically would normally be rejected; however, Sales Intervention provides an alternative workflow in which a sales trader can price the quote manually:

  1. A client makes a request for a quote using a quote ticket in their trading application
  2. The quote handler sends the parameters of the quote request to both the pricing system and the risk system
  3. The pricing system calculates a price and returns a price to the quote handler.
  4. The risk system determines that the trade is not suitable for automatic pricing, and returns a negative response and reasons for failure to quote handler.
  5. The quote handler flags the quote request as requiring manual intervention.
  6. The quote is highlighted in the Sales Intervention interface as requiring intervention
  7. A sales trader picks up the quote. A ticket displays, showing the prevailing trader rate, the client's default margin, and the reasons for the risk assessment failure.
  8. The sales trader determines that the quote request is acceptable for manual pricing, makes adjustments, and sends the price to the client.
  9. The client accepts the price
  10. The trade executes successfully.
  11. The client is informed that their trade has completed successfully.

See also: