"In the case of Katana, the bank believes better and faster pricing will help it win more business. ''These are highly competitive markets... Every price that we quote, we are competing with 10 people... We only win if we provide the best price.'' "
Katana is envisioned as a tool to help traders as its suggested price is something a trader may choose to ignore. "Katana is an evolving platform and may ultimately provide quotes directly to clients instead of advising ING’s traders. The bank also sees broader market potential for the platform created by a 10-strong team of ING developers." "Katana will use data from hundreds of thousands of trades to help the bank’s traders to get better bond prices faster. Katana is now being launched across ING’s fixed income business; its users will sharply increase from a “handful” of emerging markets traders to about 100 fixed income traders across the lender."
In-house
Hundreds of thousands of trade data
In a six-month trial at ING’s emerging markets desk, the AI tool led to faster pricing decisions for 90 per cent of trades, and cut trading costs by 25 per cent.