Financial market infrastructure firm IDBX has unveiled its IDBX on the move offering, set to enable market participants to access the IDBX venue on their phones.
The new solution enables clients to gain access to live prices across the venue, to then match as they print, and view their own position as it moves.
The offering is also supported by the firm’s trade assistant, AIDANN, to provide further details and explanations around what has changed on the venue through plain language.
IDBX is currently preparing to launch its neutral interbank trading venue, which enables banks and dealers to trade rates, FX, bonds, money markets on one platform for a fixed subscription.
Speaking to The TRADE, Nicholas J Runcorn, founder, chair and chief executive of IDBX, said: “Almost every other cost on a trading desk moved to subscription years ago. Execution did not. IDBX prices access, not activity, so the venue never earns more simply because a desk had to trade more.”
IDBX has also confirmed that the offering is deliberately view only by design, to ensure that execution remains in the hands of traders on the desk and is secured behind institutional controls.
Moreover, the AIDANN trade assistant does not have the capacity to trade on its own accord.
“Markets do not keep office hours, and neither do the people who run the books,” Runcorn added.
“IDBX on the move puts the whole venue in a participant’s pocket, every price, every match and every position, while execution stays where it belongs, on the desk.”