Page 63 - NAFIF-2019-Facility-Reference-Guide

North American Fixed-Income Facility 2019
Top QAR Notes

Open Ends – All QARs
· Getting in-depth open-ended feedback from RPs continues to be one of the
critical ways in which we can differentiate ourselves from our competitors.
Therefore, we’ve added a number of new open end questions to our QARs
covering the following topics:
o How clients decide on a particular dealer for a voice trade
o How clients select particular dealers to RFQ for an electronic trade
o What technologies/applications influence with which dealers RPs trade
Note: We are looking for SPECIFIC applications – e.g.,
something beyond an answer like “use an OMS tool
o The innovations/investments RPs want their dealers to make as it
relates to electronic trading and analytics, which would help improve the
client experience
· We moved Most Helpful Traders and Most Helpful Analysts into our traditional
Dealer Sales Rep Performance Question
o This will make it easier to associate traders/analysts mentioned to the
corresponding bank. It will no longer be captured as a separate question
o We expect that many RPs will name multiple analysts/traders at each
dealer that are helpful – please make sure to probe/capture these – the
more names we are able to capture, the more robust information we can
deliver back to RPs.
· Please make sure to probe when an RP’s open end feedback does not align
with the closed end responses – e.g,. “You had mentioned earlier that you hear
from <Sales Rep X> all the time, but you note that you want to hear from him
more often – is that because he’s particularly helpful or did you mean another
dealer?”

Emerging Markets
· We have now essentially split every qualitative question in the EM QAR into
either EM rates or EM credit – these questions are all driven by the products
that the RP is active in (from Question 1).
· It is critical that in the open-ends (one of the only questions we do not
separately ask) that we probe about both the dealers’ strengths/weaknesses in
EM credit and separately in EM rates. Nearly all RPs will have different
feedback based on whether we’re talking about rates and credit and it is
important we bring that out.

Page 44