FICC data analytics company Mosaic Smart Data has launched a new feature for its MSX platform enabling users to instantly generate text reports on their trading activity data using machine learning.
The feature will be available to all MSX users and will allow a trading activity report, which would take a member of staff hours to create, to be generated instantly.
The firm says the new service uses a machine learning technique called natural language generation (NLG), meaning MSX can generate trading activity reports on any set of analytics on the platform including both voice and electronic trade data. These reports highlight trends and identify anomalies in the transaction data, which provide points of interest for traders and sales teams. Using machine learning techniques, the reports can also provide explanations for these anomalies, moving the analytics beyond simple description to providing causative analysis. They can also be shared internally to monitor FICC performance or created to provide clients with additional insights on the market and their activities.
The data analysed by the NLG reports is fully customisable by the staff member and can be selected in real-time. This is subject to limits by permissioned controls set by compliance and management, ensuring that data and analytics is only viewable to staff authorised to see it, the firm says.
“Having advanced analytics at your fingertips is one thing, but for it to really be powerful it needs to be comprehensible to anyone in the bank who needs to use it,” says Matthew Hodgson, CEO and founder of Mosaic Smart Data. “This new feature allows users to instantly create the narrative around the data analytics, highlighting the key outliers or trends in the data which they need to pay attention to, enabling rapid understanding of the information.
“Imagine if the bank’s highest performing, most experienced quant could write all the reports it generates,” he continues. “And now imagine those reports could be produced in seconds across the entire global bank 24 hours a day. The gains in efficiency, performance and business insight would have an almost immediate impact on the bottom line.”