Buying and selling and order routing software program supplier EliData has built-in its C-RFQ resolution with Virtu Monetary’s RFQ-hub to boost its liquidity supplier expertise.
Via the combination, liquidity suppliers utilizing EliData’s C-RFQ resolution will now be capable to automate their workflow with the Virtu RFQ-hub, to entry FIX connectivity, and to centralise ETF circulation.
The C-RFQ resolution by EliData automates request for quote (RFQ) processes for ETFs by connecting instantly with buying and selling venues and Bloomberg’s RFQe platform.
“The aim that EliData units itself is to make the request for quote course of more and more environment friendly, by increasing the chances we reserve for buying and selling desks, permitting them to have a spread of instruments that optimise buying and selling exercise,” stated Marco Connizzoli, chief government of EliData.
“We consider that the power of the combination between successful methods will convey nice advantages by way of outcomes and satisfaction to our prospects.”
The RFQ-hub by Virtu Monetary centralises workflow to assist shoppers discover the perfect value for listed and over-the-counter monetary devices.
“Rolled out throughout the fourth quarter of 2020, the combination will assist RFQ-hub additional prolong its community of automated quoting counterparties, as per pushed by asset managers particularly, and improve its integration into the liquidity suppliers’ methods,” stated David Angel, head of continental Europe at Virtu Monetary.
In September final yr, Asia-based funding administration agency Asset Administration One carried out Virtu Monetary’s RFQ capabilities alongside its execution administration system (EMS) and buying and selling analytics.
The asset supervisor stated the implementation would increase its entry to liquidity and develop execution administration and commerce lifecycle analytics for its shoppers.