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Fidessa connects sell-side OMS to Squawker block trading negotiation venue

Fidessa group has completed the pan-European FIX integration from Fidessa’s OMS to Squawker, the block trading negotiation venue.

The systems integration will ensure that users of the Fidessa European Trading Platform (ETP) will be able to route orders, IOIs and advertised trades to Squawker direct from their OMS, when the new block trading venue goes-live in the first quarter of 2013.
 
Chris Gregory, chief executive, Squawker, says: “Squawker matches trading counterparts, enabling them to build block volumes together, according to their different types of interests. Those interests can be expressed by users from their OMS using orders, IOIs and advertised trades. From day-one when Squawker goes-live, Fidessa’s ETP users will be able to access the liquidity on Squawker, in the same way that they can access all of the world’s other major trading venues.
 
“The challenge of finding block interest needs to be resolved and we are seeing significant appetite to Squawker playing a key role in solving this challenge. Fidessa has now completed the Fidessa ETP FIX connectivity and deep integration with Squawker which will enable its clients to have easy access to this new source of liquidity. The deep integration will allow ETP users to automate this process even further by easily configuring their Fidessa OMS to automatically route IOIs to Squawker the instant they receive a block order onto their OMS blotter.”
 
Squawker is in discussions with the full range of sell-side firms, including investment banks, market makers, agency brokers, proprietary and principal trading firms.

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