Q: How does Q-Wixx differ from the manual list system used before?
A: The current manual process is cumbersome, error-prone and unscalable. Large portfolios of single-name credit default swaps are traded using the phone, email and Excel spreadsheets. This requires a substantial time investment by salespeople and traders and exposes participants to significant market and operational risk. In a market growing at 100%-plus year over year, the manual list trading process is unsustainable.