TradingScreen launches FIX IOI network
30 April 2004 | 1469 views | 0
TradingScreen, a leading provider of connectivity, global trading platforms, and straight-through processing for Traditional and Alternative Asset Managers, has teamed up with some of the largest equity players like CSFB, Deutsche Bank, Lehman Brothers and others to launch the first fully integrated discretionary FIX IOI network to allow users to initiate a potential trade on each published IOI across asset classes.
For the first time it will be possible to integrate in a single platform, the entirety of the trading life cycle process from IOI, to strategies, execution management, allocation and OMS and Prime Brokerage integration. Furthermore, this network will also allows discretionary distribution of IOIs as well as reverse inquiry and historical query all in one single access.
"For the client this new offering is a great step forward in better mastering the large amount of information available, to extract the relevant information from the 'noise' of the market. By making this information more manageable and trade actionable, the market will be more efficient and less costly to access, a good thing for all market participants and in line with the need of the financial community," says Hugues Bernamonti, Head of Equity Trading at SGAM.
"This new product provides us with an outstanding tool to complement the offering that we have developed in the last few years for the asset managers," Comments John Lowrey, head of European connectivity at Lehman Brothers. "It makes scanning the market for appropriate and trade actionable information much easier than in the past, and offers a unique integration level within Tradingscreen. We are happy to be one of the first to offer this service."
Jeff Wecker, Head of Global Connectivity adds, "At Lehman Brothers, we are committed to providing our clients easy access to our value added electronic services, as is the case with this IOI product from Trading Screen. Trading Screen provides us a market leading delivery platform for us to integrate many parts of our global electronic connectivity service."
"This is an important step forward for the market," says Philippe Buhannic president and CEO of Tradingscreen. For the first time an efficient discretionary distribution system allows the brokers to distribute their interests with very accurate precision, and at the same time, allows the client to review, analyze, initiate trades and track Indications of Interest over time (IOIs). All this is integrated in the entire product range of Tradingscreen from TradeSmart to TradeFIX to TradeExcel."