Raising the quality bar on data service provision tools for fixed income clients

The London Stock Exchange Group (LSEG) Municipal Market Monitor (TM3) services fixed income client data needs, both over the internet and via data feeds. TM3 services comprise several key pillars, related specifically to the US municipal bond industry. Currently, major trends and challenges in the fixed income space include fragmented, manual, and inefficient workflows.

Digiterre worked in partnership with LSEG to develop a modernised, easy-to-use, and fully functional user interface (UI) for TM3 that was performant, resilient, and scalable. This was part of LSEG’s new approach for delivery of applications within the next generation of its Workspace environment, designed to provide an enhanced user experience.

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Project Goals

The project objectives were to:

  • Rebuild the TM3 UI to improve performance, consistency, and maintainability within Workspace.
  • Enhance client efficiency by leveraging technology to provide real trading benefits to clients, such as speed, accuracy, and enhanced decision-making.
  • Provide actionable insights that enable clients to make informed decisions throughout the day.
  • Deliver best-in-class tools, developing modules for news and commentary, yield curve analytics, and primary market tools.

The Approach

The project was the first to be developed using the new Workspace application development approach, and as such
provided the testbed for other applications that would be available within the environment. Key considerations included:

  • Native web components: A business decision was made to use native web components, minimising the reliance on external UI libraries to ensure a lightweight and streamlined application.
  • Integration with existing ecosystem: The team needed to ensure that the new UI could seamlessly integrate with the existing backend systems.
  • Modern, lightweight technology: The team employed a lightweight backend-for-frontend (BFF) pattern, working
  • with full stack developers and serverless, cloud-hosted technology.
  • Design and component reusability: Utilising LSEG’s design language and component library, the team aimed to create a cohesive and modular UI. These components served as the building blocks, enabling efficient and consistent development.
  • Iterative development and testing: Adopting an agile approach, the team iteratively developed and tested components, integrating stakeholder feedback and addressing backend issues as they surfaced.
  • Cross-functional collaboration: The project involved collaboration with multiple teams, including LSEG staff and other consultancies, treating the entire delivery team as a unified entity despite geographical and organisational boundaries.

Key Benefits

At the beginning of 2024, LSEG implemented the Technology Compliance Framework in a drive to deliver gold standards in code quality, speed of delivery, and consistent project outcomes. The TM3 project team was instrumental in testing and providing feedback on the quality pipeline, one of the first projects to use the Technology Compliance Framework. Technology Compliance Framework standardises the way in which applications are built, scanned, and tested. There are now 90 applications using it, all being built in the same way, to the same quality and with unit test coverage well above the target of 80%, with no critical blocker issues in SonarQube.

  • Improved user experience: The new TM3 UI, built with native web components, provided a faster and more consistent user experience.
  • Consistent look and feel: The TM3 application was integrated into Workspace using LSEG’s design language to offer a look and feel consistent with the rest of the suite of applications.
  • Efficient performance: Reduced loading times and streamlined integration with the backend systems enhanced overall application performance within the Workspace ecosystem.
  • Stakeholder Satisfaction: The iterative approach and transparent communication ensured that stakeholder requirements were met, and expectations managed.
  • Successful transition: The first cohort of users successfully transitioned to the new UI, with ongoing support and maintenance handled by the nearshore team.

The transition to a unified UI for the TM3 application demonstrated the effectiveness of using raw web components for a consistent and high-performance user experience, and the collaborative and iterative approach ensured successful delivery, setting a benchmark for future projects within LSEG’s data and analytics domain.

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In the words of our client

The Digiterre team have been great. Good sense of humour, great work ethic, focused on results and a culture that makes difficult projects a lot easier to manage.

Domenic Vonella

Head of US Municipal Bonds

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