Improving user acceptance of MarketAxess for effective investment recommendation and efficient execution of fixed income securities in ABC Private Bank

• Main Author: Angala, Bianca Marie P.
• Format: text
• Language: English
• Published: Animo Repository 2018
• Subjects: Electronic trading of securities; Banks and banking
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/5488
• Institution: De La Salle University

The issue addressed in the action research project was the low user acceptance rate of MarketAxess, an electronic fixed income trading platform. The objectives of the project were to (i) assist relationship managers and fixed income traders adapt to the new platform for trading purposes and source of market information and (ii) shorten the time of the current process from gathering data to executing trades. The action research project adapted Davis Technology Acceptance Model as its conceptual framework and used Lewins 3-Stage Model of Change to manage the change process. The first action research cycle introduced user acceptance training and coordinated with the IT Helpdesk to handle the set-up of the MarketAxess Launchpad to improve the ease of use and enhance usefulness of the electronic platform. Given the continued resistance of some employees to use MarketAxess, the second action research cycle includes one-on-one training with relationship managers as well as assisting in the customization of their respective watchlist. In conclusion, the interventions we made in the first and second action research cycles partially met the objectives of the project. We have encouraged fixed income traders and one relationship manager to use MarketAxess thus, shortening the time of execution of trade and providing the best price available in the market due to transparency of real-time prices. The accomplishments in each stage of the action research project was the product of continuous collaboration among users.