FIX CITY, a provider of software for FIX solutions, yesterday announced it will be partnering with Portware, a provider of execution and order management technology. The partnership will deliver an integrated Indication-of-Interest (IOI) distribution and trading tool to Portware’s buy-side clients. It links FIX CITY’s ioinet solution and Portware’s execution management system (EMS), providing buy-side firms with access to pre-trade decision support and the ability to receive IOIs directly into their order blotters.
The integrated solution delivers IOIs directly into Portware’s EMS and buy-side clients’ order blotters through a dedicated FIX session. This integration enables users to access liquidity, secure best price and quickly convert IOIs into orders.
“ioinet offers a comprehensive source of broker IOIs and Trade Adverts coupled with innovative functionality,” says Stuart Adams, head of European operations, Portware. “The combined solution gives our buy-side clients access to streamlined pre-trade information and the ability to seamlessly convert IOIs into orders from their order blotter and improve the efficiency of the trading process,” he adds.
Buy-side firms are also able to access ioinet via its web-enabled application program interface (API) directly from the Portware order blotter, giving them access to the centralised historical information and indications of liquidity outside of the stocks they have orders for. Dealers can navigate large volumes of global IOIs through ioinet’s user interface. ioinet’s WatchList facility allows users to specify which stocks are of interest and proactively notifies them of IOIs on selected stocks, eliminating the need for manual searches, according to the firm.
Paul Scott, Director, FIX CITY, comments, “Portware is proactively driving the execution management space forward. Together, with ioinet, we have developed an all-round solution to enable buy-side clients to effectively manage IOIs. With hundreds of thousands of IOIs being delivered to dealers on a daily basis, the ability to focus on those that are most likely to result in orders adds significant value to the trading process.”