San Francisco-based Iris Financial has launched Econnect, a software toolkit for institutions to build connections to multiple electronic communications networks on a single screen.
The company has developed Econnect to interface initially with ECNs such as SWX, Brokertec and EuroMTS for fixed income trading, and says it will work closely with trading institutions to develop interfaces to new ECNs.
Martin Gorrod, business development director, Iris Financial, comments: "The challenge with a new ECN environment is that each ECN has different behaviours and interaction requirements. Econnect provides a common look and feel to these ECNs, displaying the best prices across multiple ECNs on a single screen. It also integrates simply into existing front-end trading systems."
In the long term, the company foresees Econnect being developed into an automatic trade router working with several ECNs, which will identify the best prices available across all the ECN markets and direct traders to the sites, says Gorrod.
He says the ECN interface development is part of Iris Financial's wider campaign to move from C++ to Java script, and thus to Web-based development tools.