Fidessa and Virtu form liquidity partnership
26 February 2018 London
Image: Shutterstock
Fidessa Group and Virtu Financial have teamed up to connect Virtu systematic internaliser’s customisable liquidity to Fidessa’s market access solutions.
The partnership will allow Fidessa’s clients to access Virtu’s transparent and disclosed liquidity, together with improved upstream workflow to manage the more complex trading environment brokers now find themselves dealing with.
Virtu’s customisable systematic internaliser price feeds are integrated to Fidessa’s smart routing capabilities and market access so that they can be consumed as if they were additional venues sitting alongside traditional sources of liquidity.
In addition, Fidessa’s order handling capabilities now enable users to manage all their order flow across lit venues, systematic internaliser operators, and the new large in scale dark pools that have emerged in the wake of the second Markets in Financial Instruments Directive (MiFID II).
James Blackburn, global head of equities product marketing at Fidessa, said: "MiFID II is reshaping the liquidity landscape as trading migrates to more transparent and disclosed systematic internalisers and away from broker crossing networks and dark pools. At the same time, the focus on best execution has never been greater and now extends formally to the buy-side as well.”
Christiaan Scholtes, head of Europe, the Middle East and Africa markets at Virtu, added: "As a leading equities and exchange-traded products market maker, we are pleased to be working directly with one of the premier technology providers in the industry and believe that this level of collaboration is helping to build the platforms of the future and drive efficient access to competitive liquidity."
The partnership will allow Fidessa’s clients to access Virtu’s transparent and disclosed liquidity, together with improved upstream workflow to manage the more complex trading environment brokers now find themselves dealing with.
Virtu’s customisable systematic internaliser price feeds are integrated to Fidessa’s smart routing capabilities and market access so that they can be consumed as if they were additional venues sitting alongside traditional sources of liquidity.
In addition, Fidessa’s order handling capabilities now enable users to manage all their order flow across lit venues, systematic internaliser operators, and the new large in scale dark pools that have emerged in the wake of the second Markets in Financial Instruments Directive (MiFID II).
James Blackburn, global head of equities product marketing at Fidessa, said: "MiFID II is reshaping the liquidity landscape as trading migrates to more transparent and disclosed systematic internalisers and away from broker crossing networks and dark pools. At the same time, the focus on best execution has never been greater and now extends formally to the buy-side as well.”
Christiaan Scholtes, head of Europe, the Middle East and Africa markets at Virtu, added: "As a leading equities and exchange-traded products market maker, we are pleased to be working directly with one of the premier technology providers in the industry and believe that this level of collaboration is helping to build the platforms of the future and drive efficient access to competitive liquidity."
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