Fixnetix and Skyler integrate market data offerings

Source: Fixnetix

Two global innovators in the Financial Services industry, Fixnetix and Skyler, have integrated their low latency market data solutions to deliver Europe's first ultra low latency direct BBO feed with full-depth liquidity discovery service that is now available for evaluation and deployment.

This hosted aggregated service will benefit a mutual customer base which includes leading banks, asset managers, hedge funds and exchanges.

Fixnetix and Skyler jointly offer a hosted market data aggregation solution to help customers to more efficiently navigate Europe's increasingly fragmented liquidity landscape. The solution aggregates Level I and Level II market data feeds from the various exchanges and MTFs into a European consolidated tape and quote feed as well as an aggregated full depth order book feed. This new service is based on the Fixnetix low latency market data feeds and excels through aggregation speed, ultimate aggregation flexibility, sophisticated business logic, highest levels of data quality, and easy to deployment.

The aggregated consolidated tape, quote, and liquidity feeds will be used by buy and sell side firms to establish a new benchmark for Pan-European trading activities. It will provide insights into where trades are being executed in a comprehensive manner, where the best prices can be found, and where the liquidity resides. For the first time, this enables buy and sell side firms to truly trade in a Pan European way and to take advantage of the new offering and cheaper execution services provided by Europes new MTFs. Hedge funds can use the data as a benchmark for their own trading activity and the broker performance and sell side firms have an easy to use means to power their algorithmic trading engines, smart order routers and GUI based trading applications. This managed service delivers the following key benefits:

  • Ultra-low latency solution for fastest decision making
  • Flexibility to request customer specific aggregated views featuring the ability to dynamically include and exclude specific venues
  • Enhanced best execution price discovery
  • Low total cost of ownership (TCO)
  • Significantly reduced time-to-deployment
  • Ease of integration by leveraging standard messaging infrastructure

Valerie Bannert-Thurner, Managing Director of Skyler Europe, said, "We are excited to be collaborating with Fixnetix and to jointly enter the market with the Europe's first Consolidated Tape, Quote, and Liquidity feed. Both buy and sell side firms urgently require this aggregated and consolidated view to power their Pan-European trading activities. Our clients will benefit not only from a fast solution, but also a very flexible and smart aggregation capability which takes advantage of the rich features set of the Skyler C3 Aggregation solutions."

Hugh Hughes, CEO and Chairman of Fixnetix, added: "with the increasing liquidity fragmentation and the need to comply with the MiFID regulations in the European market, we're seeing an escalating demand for fast and flexible aggregated trade, quote, and order book solutions. We are committed to delivering the best possible solution to our customers, and are therefore delighted to work with Skyler in delivering innovative new services to our customers. Fixnetix is all about delivering proven, end-to-end performance, and we believe the combination of our ultra low latency market data, direct connectivity and Skyler's market data analytics will prove a powerful offering for todays market."

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