FIX CITY, a global software provider of FIX IOI solutions, today extended ioinet, its Indication of Interest (IOI) distribution product, with the launch of its IOI FIX feed.
The IOI FIX feed enables buy-side firms to receive targeted and filtered IOIs from sell-side brokers, directly into their FIX-enabled Order Management Systems (OMS), transforming IOI distribution and providing a focused view of available liquidity in selected securities, for increased competitive advantage.
FIX CITY's ioinet solution, the UK's fastest growing independent supplier of IOIs and Trade Adverts (TAs), combines an intuitive, easy-to-use interface with sophisticated analytical and filtering tools for finely-targeted IOI distribution, reducing data volumes and allowing dealers to focus on key stocks. This latest enhancement to ioinet comes in response to demand for increased levels of automation as buy-side dealers seek to meet the ongoing challenges of the ever-growing volumes of broker information.
The IOI FIX feed enhancement connects buy-side firms' FIX engines to the ioinet repository, and refines incoming IOIs from sell-side firms according to the user's specifications. Selected IOIs are then routed to buy-side firms' OMS, enabling dealers to quickly identify the most suitable trading partners and swiftly capitalise on market opportunities. ioinet's dedicated FIX session frees up existing FIX connectivity for trading, significantly speeding up the trading process.
ioinet's IOIs are fed through a comprehensive range of filters, which can be continuously modified as an organisation's trading objectives change. The filters enable users to receive IOIs with specific attributes, for example for selected securities, geographies or sectors.
The IOI FIX feed allows firms with a FIX-enabled OMS to view IOIs against their orders, and raise orders in response to these within the OMS, reducing the risk of manual errors and allowing dealers to run complicated trading models on the back of IOI data.
In addition to receiving targeted IOIs for preferred securities through the IOI FIX feed, ioinet allows buy-side dealers to access IOIs and historical TAs via its web interface. This enables users to view past trading activity and all valid IOIs within the ioinet community.
Paul Scott, Director, FIX CITY, comments: "ioinet combines industry standards with leading-edge technology to enable firms to streamline the search for liquidity. Combined with ioinet's easy-to-use interface, which offers current IOI and historical trade data, the IOI FIX feed capability provides the most effective way to manage IOIs and ensure firms stay ahead in today’s competitive market."