Fixcity signs OCM Capital Markets to IOI tool
FIXCITY, an independent specialist in web-based, global electronic trading solutions, today announced that pure agency-only broker OCM Capital Markets has selected ioinet, FIXCITY's Indication of Interest (IOI) distribution product, to support its global equities trading desk.
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OCM will use ioinet to deliver targeted IOI messages on stocks throughout the world to key buy-side firms, according to the geographies or sectors they are dealing in. OCM's IOI distribution, via ioinet, will work alongside its proprietary algorithmic trading platform, enabling clients to achieve greater efficiency in trading strategies and secure best execution.
Leslie O'Malley, chief executive officer, OCM Capital Markets, comments: "OCM offers a unique approach to trading using next-generation technology to facilitate the most competitive trading strategies. By taking advantage of ioinet's capabilities, along with offering the latest in algorithmic trading, OCM ensures its clients achieve best price execution across many order types for both liquid and illiquid stocks."
ioinet's WatchList functionality automatically notifies buy-side firms with IOIs on selected securities, ensuring they are made aware of potential trading opportunities and removing the need to search through large volumes of IOIs.
Amy Muddimer, director, FIXCITY, adds: "As a pure agency-only broker, OCM never competes with its clients' interests. By taking advantage of ioinet's targeting tools the firm can ensure key clients are the first to receive its indications on stocks, as soon as they are available. This speeds up the trading process and drives order flow at competitive prices."