The name FI-STAR is derived from Fixed Income Structuring, Trading, And Risk Management. FI-STAR is designed to assist the traders and portfolio/risk managers in carrying out their daily tasks efficiently and effectively.
FI-STAR can handle the following financial instruments. They are typically handled by the Fixed Income Department of a financial institution. As financial markets develop, FI-STAR will be able to handle other types of instruments.
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Treasuries |
Corporates |
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Munis |
Agency Debt |
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Repos |
MBS Pass-Thru's |
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MBS Derivatives |
Agency CMO |
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Whole Loans |
CMBS |
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Project Loans |
Swaps & Derivatives |
FI-STAR can be used to design, create, price, and trade structured finance products including various types of asset-backed securities such as CMO's and CMBS'. In addition, FI-STAR can be used to price the underlying collateral in order to calculate the potential or expected arbitrage.
FI-STAR provides the necessary information and tools to manage pre-trade and trade processes. FI-STAR is essentially a single dealer trading system to enter, process, and record individual trades and cumulative positions with the necessary communications with the middle and back-office systems to verify and comply with all the requirements for each individual trade.
FI-STAR provides market data for interest rates, individual security description, security analysis, securities screening and quarry.
Trade
FI-STAR generates a trade ticket and a trade blotter. In addition, FI-STAR can perform trade compliance analysis on a real-time basis as the trade is being considered.
FI-STAR provides a bird's eye point of view for the manager to observe the entire portfolio and to perform various risk valuation measurement calculations on a post-trade basis. FI-STAR tracks both specific desk as well as the entire trading floor risk positions.
While the user's interaction with FI-STAR is concentrated on using the front end of FI-STAR, many additional processes occur hidden from the user's view. These processes deal with recording and reconciling trades by communicating with the back-office systems. FI-STAR is deeply integrated with the middle and back-office systems and databases as well as with third party external systems and data stream to form a comprehensive, online, trading floor management system.