Fixcity, an independent specialist in global electronic trading solutions, today announced its web-based indication of interest (IOI) distribution product, ioinet, is ready to support the best execution requirement under the forthcoming Markets in Financial Instruments Directive.
ioinet's customisable interface enables in-depth analysis of securities from multiple sources and the discovery of liquidity across global markets, aiding buy- and sell-side institutions' ability to demonstrate best execution.
ioinet allows dealers to analyse pre-trade and post-trade activity to see which firms are active in particular stocks and how the markets are moving. Its centralised repository is continuously updated to provide a view of liquidity in securities, across multiple exchanges worldwide, helping buy- and sell-side firms to find trading opportunities. ioinet can be configured to automatically highlight trading opportunities that match those on an order blotter, enabling firms to swiftly capitalise on market opportunities and secure the best price.
Paul Scott, director, FIXCITY, comments: "ioinet allows users to find liquidity across all the financial markets, in addition to dark or illiquid sources, providing a bird's eye view of available stock. Market fragmentation and regulatory obligations to demonstrate best execution, following the forthcoming Markets in Financial Instruments Directive, means that firms need to actively evaluate opportunities to trade. We continue to enhance ioinet's functionality to ensure it not only offers the ability to navigate and streamline the ever increasing volumes of IOI information, but also to add value with analysis tools which are essential when negotiating best price and demonstrating best execution."