Fidessa group plc (LSE: FDSA) has today announced that it is collaborating with Thomson Reuters to provide buy-side traders with seamless access to new sources of block liquidity via the Autex service.
Buy-side firms looking to locate liquidity in today's difficult market conditions now have the best tools to do so directly from their Fidessa Buy-side platform.
An increasingly fragmented market place has created a challenging environment for buy-sides to source the liquidity they need. At the same time, low trading volumes and falling commissions, combined with regulatory pressures, have resulted in a concerted industry effort to improve the quality of IOIs (indications of interest) and a consequent renewal of trust in them.
Thomson Reuters Autex is one of the world's largest distributors of order indications and advertised trades, processing more than two million messages each day, including 300,000 naturals, through a global network consisting of some of the largest buy-side and sell-side institutions in the industry. Synchronising this traffic with open orders, and overlaying trading preferences and patterns, Fidessa allows buy-side traders to cut through large volumes to quickly access actionable and relevant IOIs.
Russell Thornton, Global Head of Buy-side Trading Solutions at Fidessa, commented: "We take a proactive approach to alleviate the market pressures affecting our clients. By bringing all the tools our clients need into our trading platform, and intelligently tailoring the information, we have made it easier for them to access the broadest possible pool of liquidity and trade effectively in today's highly fragmented, low-volume environment."
Brennan Carley, Global Head of Transactions and Platforms at Thomson Reuters, added: "We are pleased to be collaborating with Fidessa to provide our order indication and advertised trade content to its large community of buy-side users. They now have seamless access to a global pool of liquidity contributed by some of the largest banks and broker dealers in the world. The Autex IOIs will allow buy-side traders to more effectively identify and participate in block liquidity."
Fidessa's buy-side platforms integrate all of the front office tools into a single platform including trading, compliance and connectivity services, combined with market data and unique sources of liquidity and analytics. The Fidessa platforms provide everything a buy-side organisation needs to trade more effectively in a competitive and opaque market place.