23 May 2015

Squawker launches sell-side block trading negotiation venue

03 September 2012  |  949 views  |  0 Source: Squawker

Squawker, the negotiation venue for sell-side block trading, today launched the world's first institutional trading venue based on professional social-networking technology.

Due to go-live in the first quarter of 2013, Squawker will enable investment banks, market makers, agency broker, proprietary and principal trading firms to find, negotiate and unwind large positions anonymously, cost-effectively and within a single transaction without the risks of market movement or information leakage. The announcement from the UK FSA-regulated firm comes eight weeks after Squawker signed a multi-million pound Series-A investment from the private sector.

Christopher Gregory, co-founder and CEO, Squawker, comments: "Squawker is a secure forum, based on anonymous social-networking technology, where the human trader can find liquidity and personally interact, negotiate and build on block trades with their trading counterparties. Trades execute with all the efficiencies of electronic trade capture, reporting, audit trail, controls and downstream processing."

Gregory continues: "Order book trading has reduced costs and improved efficiencies for smaller orders. Larger-sized trades remain difficult to trade both on and off exchange. Sell-side traders currently have two choices: risk the market and opportunity costs of slicing and dicing block trades and executing them through either lit or dark order books, or trade via an Interdealer Broker, without the benefits of electronic transaction processing, compliance monitoring or audit trail. The time has come for a new type of trading venue, one that eliminates algorithmic flow and combines personal interaction and behavior with the efficiencies of electronic processing. In so doing, the financial markets will finally have an electronic venue free of toxicity."

Institutions will connect to Squawker via a FIX connection. At go-live, Squawker will enable trading in equities, ETFs and all stock exchange-traded instruments from 16 European countries. 

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related company news

 

Top topics

Most viewed Most shared
Cash overtaken by non-cash payments in the...
6206 views comments | 46 tweets | 31 linkedin
MasterCard launches personal payments serv...
5608 views comments | 15 tweets | 26 linkedin
US banks bid to crack down on 'card cracki...
5367 views comments | 8 tweets | 10 linkedin
UK opts out of European online payments se...
5093 views comments | 17 tweets | 14 linkedin
Metro Bank to offer consumer loans via Zop...
4501 views comments | 28 tweets | 19 linkedin

Featured job

to £100K base, 200K ote, stock options, benefits
London, UK (or Greece, Turkey, Israel)

Find your next job