Trading technology provider Fidessa has added Thomson Reuters’ Autex indications of interest (IOI) tool to its buy-side trading platform, improving investors ability to access to block liquidity.
Autex processes more than two million order indications and advertised trades on its platform each day, including 300,000 naturals, through a network that includes some of the largest buy- and sell-side firms.
Order traffic on the Autex platform will be synchronised and overlaid with Fidessa clients’ trading preferences and patterns, enabling institutional investors to access relevant IOIs through their order and execution platforms.
According to Fidessa, the partnership addresses the challenges in sourcing block liquidity that have arisen due to low trading volumes, smaller order sizes through the increase of algorithmic and statistical arbitrage trading and increased regulatory pressure.
As a result, a concerted effort to improve the quality of IOIs and renew trust in them was needed across the industry, according to Fidessa.
Russell Thornton, global head of buy-side trading solutions at Fidessa said the move would offer buy-siders improved access to liquidity during the current tough trading environment.
“By bringing all the tools our clients need into our trading platform, and intelligently tailoring the information, we have made it easier for them to access the broadest possible pool of liquidity and trade effectively in today’s highly fragmented, low-volume environment,” said Thornton.