25 February 2017
Visit EBAday.com

Squawker launches sell-side block trading negotiation venue

03 September 2012  |  1151 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)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit contisgroup.comvisit dh.comvisit dh.com

Who is commenting?

Top topics

Most viewed Most shared
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
12432 views comments | 52 tweets | 72 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
8490 views comments | 40 tweets | 34 linkedin
High rate of defaults hit P2P lending sectorHigh rate of defaults hit P2P lending sect...
6735 views comments | 18 tweets | 13 linkedin
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
6596 views comments | 7 tweets | 4 linkedin
Visa opens London innovation centreVisa opens London innovation centre
6002 views comments | 20 tweets | 19 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job