Fidessa Announces Liquidity Partnership with Virtu Financials - The Industry Spread

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.


Fidessa Announces Liquidity Partnership with Virtu Financials

February 28, 2018

Trading technology provider, Fidessa Group Plc on Monday has announced a partnership with Virtu Financial, to connect with Virtu’s Systematic Internaliser’s (SIs) customisable liquidity to Fidessa’s market access solutions. Virtu is a leading financial firm that leverages on cutting-edge technology to deliver liquidity to the global market. 

MiFIDThe partnership will enable Fidessa’s clients to access to Virtu’s fully transparent and disclosed liquidity, together with improved upstream workflow to manage more complex trading environment most brokers find themselves in on the wake of stricter MiFID-II regulations. 

The Systematic Internalisers (SIs) was initially included in the first version of the MiFID regulation but under MiFID II, the scope of SIs has been further expanded to investment firms which deal on their own accounts by executing client orders outside the trading venues. Under the updated regulatory guidelines, it wants to capture more off-exchange trading activities and increase transparency in OTC markets.

Virtu’s customizable SIs is integrated to Fidessa’s smart routing capabilities and market access that provides liquidity to the additional trading venues alongside traditional sources of liquidity. Also, Fidessa’s advanced order handling capabilities allows users to efficiently manage all their order flow across lit venues, SI operators, and the new Large in Scale dark pools that have emerged in the wake MiFID II regulation. As shown by Fidessa Fragulator, the level of SI activity has seen a rise after MiFID II regulations came into effect indicating industry’s focus on transparency and efficiency.

James Blackburn, Global Head of Equities Product Marketing at Fidessa said: “MiFID II is reshaping the liquidity landscape as trading migrates to more transparent and disclosed SIs and away from broker crossing networks and dark pools. At the same time, the focus on best execution has never been greater and now extends formally to the buy-side as well.” 

Christiaan Scholtes, Head of EMEA Markets at Virtu, said: “As a leading equities and ETP market maker, we are pleased to be working directly with one of the premier technology providers in the industry and believe that this level of collaboration is helping to build the platforms of the future and drive efficient access to competitive liquidity.”

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