The Eze Castle Software order management system (OMS), provided by investment technology firm BNY ConvergEx Group, has completed links to US block trading platform Aqua. The arrangement provides Eze OMS clients with access to new block liquidity.
“Aqua has responded to the widespread demand among institutional equity traders for seamless and anonymous access to new block liquidity,” said Kevin Foley, CEO of Aqua.
On any given day, Aqua can receive firm, executable bids and offers submitted by more than 100 participating brokers, narrowcasting them to buy-side participants with the option – but not the obligation – to trade. The model creates linkages that the company says facilitate block trading between brokers and buy-side firms that haven’t found each other using traditional methods.
“Our clients rely on the Eze OMS to simplify and manage their daily investment and trading processes, including integrated access to key liquidity providers in the marketplace," says Tom Gavin, CEO of Eze Castle and director of BNY ConvergEx Group.