Global information company Reuters, (NASDAQ:RTRSY) today announced an agreement with IRESS Market Technology Limited , the Australia based equities systems developer to integrate both of their order routing networks to facilitate order flow from Reuters equity and equity derivatives customers to any clients on the IRESS Order System (IOS) network in Australia and New Zealand.
The Reuters Order Routing network (ROR) offers Reuters clients a user-friendly trading solution that quickly and seamlessly links Reuters growing global community of institutions, broker-dealers and execution venues via an open and neutral order routing hub.
The IRESS IOS network is a domestic order routing network that connects to over 40 brokers in Australia and New Zealand, allowing direct access to the ASX (Australian Stock Exchange), Click (Australian Options market), SFE (Sydney Futures Exchanges) and NZX (New Zealand Stock Exchange).
Through this link, all global Reuters ROR users will now have direct access to the Australia and New Zealand markets. The ROR network is currently used by about 200 brokers and 500 buy-side institutions globally. This represents a significant additional pool of liquidity to IOS users.
Diccon Close, Managing Director, Reuters Pacific said: "The integration of our networks gives all Reuters ROR clients direct access to the Australian and New Zealand markets. This combined with our new Fixed Income and FX execution demonstrates Reuters continual drive to a single desktop for global price discovery and execution capabilities. The IOS network has significantly contributed to the success of Iress in the Australian domestic market and we are delighted with this joint initiative."
Peter Dunai, Managing Director, IRESS said: "IRESS is pleased to connect the IOS and Reuters networks. This relationship will enable clients of the IOS network the ability to receive order flow from the international ROR network seamlessly into their existing IRESS terminals."
Susanna Thornton, Head of Institutional Equities, Reuters Asia said: "The link between the Reuters Order Routing for Equities and IOS networks leverages the strength of both parties, combining the Reuters Global trading community with IRESS' strong local presence. This combined with the growing demand for Australian and New Zealand stocks from buy-side clients and the reduced overall cost of implementing STP makes the partnership a mutually very beneficial relationship."