Charles River Development, a financial software provider, has established a link to Aqua, a US alternative block trading venue.
The link will provide users of the Charles River Investment Management System (IMS) with access to Aqua’s pool of block liquidity and order interaction method. Aqua believes its pool offers unprecedented information security to its clients.
“Aqua has responded to institutional equity traders’ widespread demand for seamless and anonymous access to new block liquidity”, said Kevin Foley, Aqua CEO in a statement.
On any given day, Aqua receives firm, executable bids and offers submitted by more than 100 participating brokers. It then sends them to buy-side participants, giving them the option to trade. Aqua claims this model creates linkages that facilitate block trading between brokers and buy-side firms that have not connected using traditional methods.
Foley added: “Aqua’s guiding principle is simple. Eliminate the information leakage and you make it both safe and convenient to reach for new block liquidity in places you might not have accessed previously.”