MetaBit announces the first Australian broker, CommSec, to connect to its Market Liquidity Hub (MLH).
Buy side clients connected to the MLH can now extend their market access to include all securities available on the Australian and New Zealand stock exchanges. With CommSec joining MetaBit's Market Liquidity Hub, clients will be able to directly connect to Australia's largest Direct Market Access (DMA) broker.
Hedge funds and asset managers can now trade with CommSec through MetaBit's intuitive trading tool, XiliX, or directly to the MLH via FIX access or published APIs. XiliX is a FIX enabled multi-broker DMA tool geared to the needs of buy side clients who trade on all of Japan's major exchanges and HKEx, and has now been extended to include Australia and New Zealand.
"MetaBit is very pleased that CommSec has become the first Australian firm, and the 7th broker to connect to our MLH," says Daniel Burgin, CEO, MetaBit. "The addition of CommSec cements MetaBit's position as a leader in providing access to market liquidity in Asian Markets and gives existing and future clients efficient DMA access to ASX and NZX."
"MetaBit has a great service presence in Tokyo, which appeals to hedge funds requesting fast and cost efficient execution capabilities. These same clients now have ASX and NZX access across the same platform. Combined with CommSec's experience and status in the Australian market as the largest DMA broker, we expect this service to have great appeal," says Trevor Jarrett who works on the Institutional client desk in Sydney.