EliData has expanded its portfolio through the integration between C-RFQ and the Frankfurt Stock Exchange’s request-for-quote (RFQ) functionality, Xetra EnLight.
The functionality is used for off-book trading in the cash market and allows members to execute trades in equities, ETFs and ETPs through a RFQ workflow.
EliData’s solution is completely integrated into CTS (Caronte Trading System) and was created to automate the RFQ process, improving and optimising client’s trading strategies by providing a centralised and complete monitoring of the whole workflow.
By using C-RFQ, traders gain full control of the RFQ process in a simplified and automatic way, providing several options in terms of brokers and venues, which can make the difference in trading strategy.
Through the integration, C-RFQ will help liquidity providers to access FIX connectivity thanks to an automatic and centralised feature, enhancing their business strategies, claimed EliData.
“We are glad and proud to have achieved the integration between C-RFQ and Xetra EnLight. Our goal is to enhance the applicability of the connection to multiple market platforms with the great advantage in terms of automation and ease of the whole RFQ workflow,” said Silvia Della Casa, account manager of EliData.
Earlier this year, EliData integrated its C-RFQ solution with Virtu Financial’s RFQ-hub to enhance the experience for liquidity providers. The integration allowed liquidity providers using the EliData C-RFQ solution to automate their workflow with Virtu’s RGQ-hub, to access FIX connectivity and to centralise ETF flow.
“We are delighted that EliData together with Mediobanca took the lead to automate Xetra EnLight. This was a major milestone for our initiative and is accelerating the momentum we are seeing from clients for a competitive on-exchange off-book RfQ offering for blocktrades in German, European and US equities as well as ETFs,” said Christian Schürlein, head of Deutsche Börse Cash Market Business Development Wholesale.