EliData integrates C-RFQ with Virtu’s RFQ-hub to improve liquidity provider experience

The integration will allow liquidity providers using the EliData C-RFQ solution to automate their workflow with the RFQ-hub, to access FIX connectivity, and to centralise ETF flow.

Trading and order routing software provider EliData has integrated its C-RFQ solution with Virtu Financial’s RFQ-hub to enhance its liquidity provider experience.

Through the integration, liquidity providers using EliData’s C-RFQ solution will now be able to automate their workflow with the Virtu RFQ-hub, to access FIX connectivity, and to centralise ETF flow.

The C-RFQ solution by EliData automates request for quote (RFQ) processes for ETFs by connecting directly with trading venues and Bloomberg’s RFQe platform.

“The goal that EliData sets itself is to make the request for quote process increasingly efficient, by expanding the possibilities we reserve for trading desks, allowing them to have a range of tools that optimise trading activity,” said Marco Connizzoli, chief executive of EliData.

“We believe that the strength of the integration between winning systems will bring great benefits in terms of results and satisfaction to our customers.”

The RFQ-hub by Virtu Financial centralises workflow to help clients find the best price for listed and over-the-counter financial instruments.

“Rolled out during the fourth quarter of 2020, the integration will help RFQ-hub further extend its network of automated quoting counterparties, as per driven by asset managers in particular, and enhance its integration into the liquidity providers’ systems,” said David Angel, head of continental Europe at Virtu Financial.

In September last year, Asia-based investment management firm Asset Management One implemented Virtu Financial’s RFQ capabilities alongside its execution management system (EMS) and trading analytics.

The asset manager said the implementation would boost its access to liquidity and expand execution management and trade lifecycle analytics for its clients.