Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the world's financial community, has today announced that Gate US, which operates the Gate Pro platform and ATS (Alternative Trading System) for restricted and illiquid US securities, has joined its global connectivity network.
The 2,400 buy-sides and 600 brokers on the Fidessa network will now be able to route flow to GATE US, a subsidiary of GATE Technologies, which is the first provider of an electronic transaction platform for trading global alternative assets and illiquid securities.
As an innovator of electronic trading of restricted stock, the GATE Pro platform utilizes FIX connectivity to bring transparency and liquidity to a traditionally opaque market. Access to GATE US' services is available via direct FIX connection or fully integrated into Fidessa's own products - including the Minerva OEMS and EMS Workstation for the buy-side, and its sell-side trading platforms.
"The connection between GATE US and Fidessa is an important milestone for us," noted GATE President James O'Reilly. "We founded GATE with the intent to streamline the liquidity process, and this engagement with Fidessa brings us closer to fulfilling that goal of bringing liquidity and transparency to the world's illiquid markets."
Justin Llewellyn-Jones, managing director of Fidessa in the US, added, "One of the key assets of the Fidessa connectivity network is the breadth and diversity of its membership. We actively seek to bring innovative and different market participants on board. By welcoming GATE US to the network, we strengthen that offering still further, adding a wealth of new opportunities in restricted securities and private equity to our institutional members."