FutureTrade, a leading independent provider of equity and options execution services, announced today that it has entered into an agreement with Liquidnet which will allow FutureTrade's qualified buy-side clients to access Liquidnet's block liquidity directly from the FutureTrade Blotter.
The FutureTrade platform operates as an application service provider (ASP) allowing it to install most new clients within days of their request. Its low cost model allows FutureTrade to provide its Order Management System (OMS) capabilities to buy-side clients without any installation, license or maintenance fees.
"FutureTrade continues to expand and enhance the services and execution venues which we offer based upon customer request," said Jim Kwiatkowski, EVP Sales and Marketing at FutureTrade. "While we have long offered access to ECNs, exchanges and algorithms, many of our clients have requested the ability to execute block trades with minimal market impact. We are delighted to work with Liquidnet to deliver an invaluable source of block liquidity to our clients."
Through Liquidnet, FutureTrade users will be able to trade large blocks of stock without breaking them down into smaller trades. This will minimize market impact and avoid the unnecessary transaction costs that may ultimately erode performance. Institutions will benefit from the ability to source liquidity without making their intentions known to the marketplace, and maintain complete control of execution price and quantity.
Alfred Eskandar, Director of Corporate Strategy at Liquidnet said: "We are very excited to be entering into this alliance with FutureTrade. Not only is the FutureTrade platform one of the most well regarded execution and order management systems available, but the company has an impressive list of clients who will be able to seamlessly interact with Liquidnet's vast liquidity pool. Their commercial model and ease of installation will allow us to work together to bring new Liquidnet users live quickly. With our shared focus on offering the best access to liquidity to the buy side, we're sure that this relationship will be highly successful."