Fixed-Income Data Infrastructure

Turn broker chat into structured trade data

TwoWay parses rates, credit, and repo messages from Bloomberg Chat, Symphony, and ICE into clean, schema-normalized records your OMS and risk systems can consume directly.

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Illustrative - Sample broker message parsing, not a live connection

Raw broker message

EUR 25mm 10Y IRS / pay fxd @ 3.45 / H or T, T+2 settle / 2-way ax

Parsed fields

Asset classIRS

CCYEUR

Notional25,000,000

Tenor10Y

DirectionPay fixed

Fixed rate3.45%

SettleT+2

Axe type2-way

The Problem

Broker chat is your largest unstructured data source

Rates, credit, and repo desks receive hundreds of axe messages daily across Bloomberg, Symphony, and ICE Chat. None of it reaches your OMS without a human typing it in.

340+

Broker messages per desk per day

Average across rates and credit desks in our pilot cohort

3.1h

Manual re-keying time per trader daily

Time spent transcribing broker quotes into internal systems

Of broker chat is MiFID II searchable

Without structured extraction, chat data cannot satisfy best-execution audit requirements

The Solution

Structured data from every broker message, automatically

TwoWay connects to your existing chat platforms and delivers normalized, schema-validated records in real time, no changes to trader workflow required.

Real-time extraction

Axe messages parsed and delivered to your data layer within 200ms of receipt, across rates IRS, credit bonds, and overnight repo.

Schema-normalized output

Every field typed and validated against FpML-aligned schemas. Notional, direction, rate, tenor, settle, and broker attribution land in consistent columns every time.

OMS and risk integration

REST and FIX feeds deliver structured records directly into Murex, Calypso, or any internal system. No middleware rewrite required.

MiFID II audit trail

Every parsed record carries an immutable timestamp, source reference, and confidence score, giving compliance an auditable link from raw message to structured trade data.

Multi-platform coverage

Bloomberg Chat, Symphony, and ICE Chat connectors included. Broker-side identifiers normalized against ISIN, CUSIP, and SEDOL registries for consistent instrument matching.

On-premise deployment

No message content leaves your network. TwoWay runs inside your perimeter via Docker containers, satisfying data-residency requirements under GDPR and firm policy.

Measured Impact

What early-access pilot desks report

94%

Parse accuracy on rates and credit messages

Across Bloomberg Chat and Symphony channels in pilot deployments

2.7h

Reduction in daily manual re-keying per trader

Measured over 90-day periods in rates desk pilots

100%

Parsed records written to audit log

Internal beta pilot data: every parsed record written with a source reference

Day 1

Time to first structured feed after deployment

Connector setup and schema validation completed during onboarding sprint

"Before TwoWay, our repo desk was typing 60 to 80 broker axe messages a day into Calypso by hand. Now that data lands in the system in under a second. The compliance team was the first to notice: they finally have a searchable record of every rate we received."

Head of Short-Term Rates, European asset manager

TwoWay pilot participant

Pricing

Start with one desk, scale to the floor

Desk-level licensing lets you prove ROI on a single rates or credit desk before expanding. No seat minimums on the Pilot tier.

Pilot Desk

EUR 190

per desk per month

Single desk deployment for proof-of-concept. Includes onboarding support and connector setup.

1 desk, up to 2 users
1 chat platform connector
Rates, credit, or repo
REST feed included
MiFID II audit log

Request a Pilot

Your broker chat data is already there. Let us structure it.

A two-week pilot costs less than one analyst day of manual re-keying. We connect to your existing chat platforms and deliver structured records from day one.

Request a Pilot