Squawker, the negotiation venue for sell-side block trading, today announced it has entered into an agreement with BT in which BT Radianz services will be used to host and manage Squawker's technology infrastructure, and provide brokers with access to Squawker, the world's first toxic-free* electronic trading venue.
Members of the BT Radianz Cloud - the world's largest secure networked financial community - will have easy access to Squawker's secure, anonymous forum where they can find liquidity and personally interact, negotiate and build on block trades with their trading counterparts.
Robin Farnan, MD BT Radianz Services and BT Unified Trading, BT, comments: "BT is absolutely committed to providing the highest quality of managed services, with all the stability, fault-tolerance, disaster recovery and continuity that is expected and required for today's trading venues. The BT Radianz Cloud is rapidly becoming the industry standard, linking together the world's major trading venues and financial institutions, and as such Squawker is an important addition to our cloud community."
Christopher Gregory, co-founder and CEO, Squawker, comments: "Squawker will provide a new solution to the block trading challenge that the industry has been grappling with for a while. By collaborating with BT, we are able to ensure the highest-quality trading venue for our global clients, with easy access to our services via a proven, trusted and established provider."
Squawker is currently in its production environment implementation phase and is due to go-live in the first quarter of 2013.
*Toxic-free
Every trading decision on Squawker is made by a human being, not by computer-generated algorithms which may attempt to game other counterparts' order flow. Being free from algorithms makes Squawker a toxic-free electronic trading venue.