Matrix Applications (“Matrix”) was founded in 2000 as a New York-based fintech service bureau that offers a suite of collateral management, margining, and clearing systems for institutional fixed-income trading. Over the years, Matrix’s growing team of capital markets and systems professionals have delivered comprehensive financial technology solutions to institutional firms both big and small. Since day one, Matrix has worked hands-on with clients to identify an optimal mix of services to best fit their needs, from systems to back-office operations assistance. With in-house and off-shore developers, Matrix Applications provide clients with the right solution at the right price. Every day. Without fail.
Matrix Applications aims to simplify the trade life cycle process for customers by offering advanced technological and operational solutions for fixed income trading and equities securities lending. The firm’s goal is to minimize the associated pain points of high costs and high-touch trade life-cycle management by providing seamless post-trade straight-through-processing. Matrix’s systems are more economical than the two dominant technology providers in its space and the team’s passion for customer service is unparalleled. As an innovator in financial technology, Matrix Applications is constantly seeking new ways to improve its software and services. By keeping up with current trends and changes in the industry, the firm offers up-to-date solutions to clients. In fact, Matrix continually builds and improves its systems, typically releasing new versions once a month.
For the past few years, the Matrix team has been aggressive about moving to cutting-edge technology for its DevOps and SecOps. For example, the shift to container architecture, like Docker, radically improved the ability to control and automate “the factory process” of building and shipping code. Security is woven into the fabric of everything the team does today. Cyber threats seem to evolve on an exponential curve, requiring continuous learning and investment.
Matrix Applications is proud of the innovations to its systems, such as a shift to virtualized devices, advanced MFA, modern endpoint protection, robust redundancy, among others. These enhancements have allowed Matrix to remain on the cutting edge of its industry while still being nimble. The firm is able to adapt quickly to changing environments, as evidenced by the first days of the COVID-19 lockdown when Matrix easily adapted to an entirely remote environment overnight.
Matrix Applications aims to simplify the trade life cycle process for customers by oﬀering advanced technological and operational solutions for fixed income trading and equities securities lending.
“At Matrix, innovation is one of our core values. We know the industry and we know what our customers want because we listen. We are always ready to adapt and innovate to improve our systems, services, and client experience. Unlike our competitors, our systems are built by those who use them, so we excel at giving the changes and adaptations they need quickly” says James Tabacchi, CEO, Matrix Applications.
Matrix Applications is constantly seeking new opportunities to expand its systems, services, partnerships, and business processes. New technologies and platforms have come to Wall Street which has challenged older, more established platforms. There is a need for a fresher, modern, and user-friendly interface for Matrix’s QTIX system with micro-services capabilities. Matrix is developing Next Generation (NG) deployments for the QTIX user interface to improve the user experience and create micro-services architecture to keep up with the changing marketplace. This upgrade will usher in a new era of fixed income trade lifecycle servicing to its clients. Matrix is also expanding into equities, particularly in the securities lending space. In summary, the firm is committed to prioritizing and investing in research efforts to improve its technology systems and processes.
The new QTIX is a fixed income platform that offers a cohesive front-to-back-office solution for institutional trade processing and differs from other solutions due to its unique modular nature and customization capabilities. Upon leveraging QTIX, traders can use various position management screens to monitor their books, execute trades, and margin customers. Designed with exception-based filters in mind, QTIX’s straight-through processing allows the Operations team to focus on resolving unidentified issues. Built-in sub-ledgers and full audit histories provide users with the tools to address books-and-records inquiries and audits quickly and efficiently. QTIX whisks trades from OMS’s and brokers down to clearing banks, DTCC, regulators, and other Street utilities.
TradeBlazer is a flexible, central hub for fixed income processing. It is enterprise-grade software that excels at TBA and specified pools processing. The MBS functionality has been consistently enhanced over the past 15 years to streamline the allocation process and bring extreme efficiency to the front office. TradeBlaz- er’s repo capabilities are not only advanced, but also simplified. The system’s repo repo workflow features include: drag and drop collateral on trades, replicate trades, reset bulk rates, bulk close open trades, dollar rolls, and interest cleanup & re-pricing. With TradeBlaz- er, trades flow automatically from order management systems and top brokers. Traders can effectively manage their repo, ownership, and TBA positions in a variety of ways. With direct connections to clearing banks and DTCC entities, settlement, novation and matching are seamless. In addition, credit, risk, and earnings are all integrated for command and control. Users can send margin calls with the click of a button. Audit requests are fulfilled easily and TradeBlazer has over 400 reports in PDF, HTML, and text format.
About Managed Services:
Matrix Applications offers an array of trade support functions, coupled with its fixed income systems, to assist customers with back-office operations. Clients gain greater command and control over their trade flows and position management by leveraging Matrix’s Managed Services for the back-office. Utilize Matrix’s Managed Services for a timeframe that is personally tailored to match your firm’s needs. The firm’s comprehensive, customizable and modular systems – along with its Managed Services – address the challenges of operational inefficiencies and reduce associated staffing costs. With Matrix focusing on the daily details, its clients are freed up to focus on higher-value activities.
MarginCalculator is a simple web-based, interactive margin workflow solution to the complex problem of margining forward-settling trades, particularly TBAs, specified pools, ARMs, and CMOs. It helps you compute and validate margin requirements by taking all necessary variables into account. MarginCalculator calculates exposure taking into account market fluctuations, settled and unsettled positions, and cash/collateral margins posted to ensure monitoring risk is seamless. This straightforward and cost-effective margin workflow platform ensures firms comply with all regulations while keeping the user experience simple.