Matching the World

May 23, 2022

We are pleased to announce a powerful new tool to help you drive increased trading activity. The All Matchers Report is akin to an auto targeter for your Fixed Income Salesforce. The reports can be accessed at the following URLs:

Structured Products: www.empirasign.com/all-matchers/
Corporate Bonds: www.empirasign.com/all-matchers-corp/

Report Generation Methodology

Collect the following lists of bonds:

  1. BWICs for a given day
  2. Runs and Offer Sheets for a given day
  3. N-PORT holdings reported in the last 90 days
  4. NAIC transactions in the last year

We then reduce the members of the above lists to only bonds appearing on two or more lists. Groups 1 and 2 are updated in real-time as we process BWICs and Runs throughout the day. For the May 17th report, 7,688 bonds fit these criteria.

For more information on our N-PORT flings and NAIC transactions data sets, please see the following blog posts:

www.empirasign.com/blog/NPORT-Filings/
www.empirasign.com/blog/NAIC-Transaction-History/

Sample screenshot for the May 17th Report:

All Matchers Report for May 17th

The report can be sorted and filtered on sector, sub-sector, and issuer via the controls on the table header. You can even filter all the way down to bonds that are simultaneously on a BWIC, Run, have recent holders, and recent NAIC transactions. To do this, click on the radio buttons above the report table. The screenshot below shows these 4-way matchers. We stipulate that these 4-way matchers are the most tradable bonds currently in the market. For May 17th, only 34 bonds are 4-way matchers.

4-Way Matchers

Click to expand any line item to see linked BWICs, Runs, Mutual Funds, or Insurance Companies. Or click on the ISIN hyperlink to be directed to the /secid/ page for the bond's full trading history. The bond shown below, EFF 2021-2 A2, appears on one BWIC, two dealer inventories, four N-PORT filings, and six NAIC transactions.

All Matchers Zoom View

Axes System

While you're busy crossing bonds, maybe it's time to give our Axes System another look. There's never been a better time to avail yourself of all the transaction and liquidity tools you can. Read more about our Axes System here: www.empirasign.com/blog/Empirasign-Axes/.



No-Code No Cost Parse and Store

May 10, 2022

The Headline

A few weeks back, we introduced our No-Code Parser Interface. Simply forward a Market Data email to one our dropboxes, and receive back parsed and normalized Market Data. Today, we greatly enhance this interface by linking it with our Parse and Store feature.

No-Code Parsing via our Email Gateway Interface (EGI)

Connect directly to our Parser API by simply forwarding a message to an Empirasign email address. Our Email Gateway Interface will handle the rest (validation, API authentication, data transport, response generation, etc.). We'll email you back when it's done. You can view the parser results by clicking on the enclosed link.

Where to send your runs

Email Gateway Interface runs addresses

Example Parser Email Receipt

Parser Job Completion Notification

Parse and Store

Any time you search for a bond on Empirasign, you'll receive results from our public database as well as from the messages sent to one our of EGI dropboxes. By default, the data derived from these messages is viewable only to you. Colleagues at your organization can also be permissioned to view such data. An example bond search page is below. The top section is the standard public database results and the bottom section (circled in red) is the private User Data we have indexed for you.

Bond Search Results with EGI Data

MyData

Data collected via EGI can be managed on the MyData page (screenshot below). You can view emails and raw data, export raw and parsed data, and delete items. Data sharing within your organization can be permissioned here.

MyData Screen with Parser Results

Superset the Market for Free

All web application clients have Parse and Store enabled for up to 100 messages per day at No Additional Cost. If you want to take a more programmatic approach to parsing large volumes of data, please reach out to us directly for an API Key.

EGI Parser Terms and Conditions

Only 100 messages per business day will be parsed and indexed for free via one of the above public dropboxes. If your message is rejected due to quota exhaustion, you can resubmit your message the next business day. Empirasign asserts no ownership over either the raw or finished materials sent to any of our EGI dropboxes.



No-Code Parser Interface

April 5, 2022

The Headline

Send a runs email to one of our email dropboxes and receive back normalized and validated market quotes. With No-Code and No-Cost, there's never been an easier way to get started with our parser.

Parser as a Service Background

Empirasign first introduced our Parser as a Service in 2017 to provide clients with direct access to our market-leading, proprietary parsing technology via the simplicity of an API call. In the Extract, Transform, and Load process for message handling, the heavy lift is the Transform step. Our Parser as a Service enables clients to off-load this step to an outside vendor whose long-standing core competency is transforming unstructured data into structured form. Our Freemium Service Tier made it easier than ever to get started. However, technical hurdles remain.

Today we look to close the loop between developers and consumers.

No-Code Parsing via our Email Gateway Interface (EGI)

Today, anyone can take our parser for a spin by simply forwarding a message to an Empirasign email address. Our Email Gateway Interface will handle the rest (validation, API authentication, data transport, response generation, etc.). From your end it's as simple as forwarding an email and clicking on the link we send back.

Where to send your runs:

Email Gateway Interface runs addresses

Example Response Email

Parser Job Completion Notification

Parser GUI

After clicking the link, you'll be redirected to our parser GUI where you can review the message's parsed results. Export to CSV or JSON is available on this page as well. As we don't permanently store messages, the viewer page is only available for two weeks after a runs message is received by one of our dropboxes.

For more information on the GUI replay feature, please consult this blog post:
www.empirasign.com/blog/Parser-Replay-Viewer/

A few sample screenshots are below:

Parser Validated Records

EGI Parser Terms and Conditions

Only a limited number of messages per business day will be parsed for free via one of the above public dropboxes. If your message is rejected due to free quota exhaustion, please resubmit your message the next business day. After two weeks, we delete all raw and processed data from our systems, and the viewer link will return a 404. Empirasign asserts no ownership over either the raw or finished materials sent to any of our parser email dropboxes.

Freemium

If you want to get serious about parsing, contact us to be set up with an API Key for our Parser as a Service. Our Freemium Service Tier allows for 100 messages parsed per day (BWICs or Runs) at no cost to you.

More Resources

Over the last few months we've been releasing more and more code examples and tutorials for both our Parser API and Market Data API. An overview of these efforts can be found on our developer resources page.
www.empirasign.com/developer-resources/

More to come

We have just begun to scratch the surface of new and existing services we can offer via our Email Gateway Interface. Stay tuned for more updates on how you can interface with sophisticated solutions in a No-Code manner.



INTEX Data Export

March 7, 2022

File System Access API

Using a new browser feature called the File System Access API, we are now able to bring you a previously unattainable level of integration between web-based applications and installed applications. Furthermore, this can all be done without the need to install any new bridge or middleware software. The first integration we are pleased to announce is direct export of Empirasign Market Data to INTEXcalc.

INTEXcalc

INTEXcalc will automatically consume third party market data if such data is in INTEX compatible format and stored in directories INTEXcalc is watching. The former part is relatively easy, but the latter part was impossible without installing extra software--until now, that is. Empirasign has created this automatic integration via leveraging your browser's built-in File System Access API.

Getting Started

  • Create a folder called market_data under Documents or on a shared drive. The latter method allows for easy data sharing with colleagues.
  • Configure your copy of INTEXcalc to read from this directory.
    • Go to the BWIC Monitor or Market Monitor tab on INTEXcalc.
    • Click the gear icon and select Market Data Settings.
    • Change Market Data Directory from Default Location to Custom Location.
    • Choose the same market_data folder as selected above.
  • Click the Refresh button on INTEXcalc to load any data exported from Empirasign.
  • The above steps are only necessary upon initial configuration or if your market_data directory location has changed. For security reasons, the File System Access API cannot directly access INTEXcalc's default market data directory location (usually under %APPDATA%).

Screenshot of INTEXcalc Market Data Directory Chooser Dialog

INTEXcalc Market Data Chooser

Business Time

With that ceremony out of the way, you are now free to export data at will on any bwic or secid page by clicking on the INTEX icon. In the screenshot below of a sample BWIC, the INTEX export icon is circled in red.
BWIC with INTEX Export

Exported Empirasign Market Data is viewable on the following INTEXcalc screens:

  • BWIC Monitor
  • Single Deal Analysis
  • Portfolio Analysis
  • Market Monitor Report

Where Did the Files Go?

Our web application will create bwic data files that look LISTID.bwic (e.g. 220215D.bwic) and market color files that look like ISIN.mktd (e.g. US31395D6Q71.mktd). An example directory tree is displayed below. All files live under the market_data directory you selected above (blue folder in image). All bwic data files live under the bwic\YYYYMMDD subdirectory. The folders in red (bwic and market_color) are created by our web app (if they do not already exist). Our web app also creates the YYYYMMDD directories (as needed).

File Tree After Several Exports

How Did We Do This?

Below is a diagram showing how the Market Data flows from Empirasign's servers to the INTEXcalc application.

Data flows and protocols

API Integration

Even though the File System Access API is about web applications, we did not want to leave our API clients out in the cold. Below are two recently released two INTEX-specific scripts.

bwics_to_intex.py

This script repeatedly polls the Empirasign API for BWIC information in selected sector(s). Data is exported to INTEXcalc market data folders in the INTEXcalc BWIC/JSON format.
gist.github.com/empirasign/3a019fdb91fa253f466b7f879b0b61e4

intex_mktd.py

This script leverages the /api/all-bonds/ and /api/bonds/ API endpoints to fill up the INTEX market_data/market_color directory with fresh market data for client-specified sector(s).
gist.github.com/empirasign/e19abc1649286167fce59f6645f71658

Developer Resources

Do check out our new Developer Resources page. This is the best place to start for anything technical or API related.
www.empirasign.com/developer-resources/

File System Access API Tutorials

Mozilla Tutorial
Google Tutorial
CSS Tricks Tutorial



Stop Forwarding and Start POSTing

Feb. 25, 2022

Background

Most of our data contribution and parsing clients send emails to a dropbox (e.g bwic@empirasign.com) using a rule-based email forwarding tool. But there is a better way.

Stop Forwarding and Start POSTing

Below are links to example scripts that utilize a new API endpoint /submit-email/ to programmatically send emails to us instead of forwarding to a role-based email address. The benefits of this methodology are manifold. For example, forwarding an email incurs a doubling of storage and bandwidth costs. By default, each forwarded email is saved in your Sent folder (i.e. stored on disk). Email providers have limits on the number of emails sent and received and on overall bandwidth use. Published limits for a few of them are linked below. By transmitting via a script you deploy, you'll have greater precision and control over which items to transmit and how to log such transmissions. Our API endpoint also logs the receipt of such transmissions for fail-safe record keeping.

Example Scripts

Data Contribution via IMAP
gist.github.com/empirasign/6f3feab4730c94be747723f0b56f6502

Data Contribution via Outlook
gist.github.com/empirasign/5aeb506978b8689f053ed21e4417c30d

Save the Fibers

The /submit-email/ endpoint now accepts gzip-encoded payloads. If using the requests library, it's a small change (see below) with potentially large bandwidth savings. In our experience, gzipping email reduces payload size by about 50%.

Code Snippet

# uncompressed API call
resp = requests.post(URL, json=post_data, proxies=_proxies_dict(PROXY_SERVER))
# https://gist.github.com/empirasign/6f3feab4730c94be747723f0b56f6502#file-imap_daq-py-L185

# compressed API call
resp = requests.post(URL,
                     data=zlib.compress(json.dumps(post_data).encode("utf-8"))
                     proxies=_proxies_dict(PROXY_SERVER)
                     headers={"Content-Encoding": "gzip"})

Link to full docs: www.empirasign.com/api-docs/

Coming Soon

The above Outlook script interacts directly with an Outlook client. We'll soon be releasing example scripts that interact directly with Exchange Server. Support for Exchange Web Services and the new Microsoft Graph API will be provided. Interacting directly with Exchange Server allows for easier handling of multiple contributor inboxes as well as code portability. Your data contribution scripts can run on any box and OS you chose. They don't need to run on the client machine or the Exchange Server machine. This is already the case if your back-end email services are IMAP-based.

Developer Resources

We have posted a Developer Resources page. This page is the best place to start when looking for help on anything technical or API-related.
www.empirasign.com/developer-resources/

Email Service Provider Bandwidth Limits

Office 365 Exchange Bandwidth Limits
docs.microsoft.com/en-us/office365/servicedescriptions/exchange-online-service-description/exchange-online-limits

Google Workspace Limits
2.5GB per day for IMAP. That's around 100K messages per day for corps (maybe 25K for Structured Products)
support.google.com/a/answer/1071518?hl=en

Fastmail Professional Limits
80K messages per day
www.fastmail.help/hc/en-us/articles/1500000277382-Account-limits#sending/receiving


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