InfoReach, a provider of execution management systems and connectivity, has further enhanced the foreign exchange capabilities of its InfoReach Trade Management System (TMS).
As well as connections to interdealer broker ICAP’s Electronic Broking Services and data vendor Thomson Reuters’ FX liquidity, which went live on TMS at the end of December, InfoReach has also added a link to J.P. Morgan’s FX flow, taking the total number of FX dealers and electronic communications networks on the TMS to 15.
InfoReach has also introduced new functionality to the TMS that notifies traders when a trading venue on InfoReach’s FIX connectivity network becomes unavailable, regardless of whether an order or order amend has been submitted.
“Our real-time alerting feature sets InfoReach apart from all other FIX routing networks, which inform traders of broker unavailability only at the time when an order is actually sent to that broker,” said InfoReach CEO Allen Zaydlin in a statement. “So instead of sending a market-on-close basket, for example, just to find out that the broker is unavailable due to some connectivity issues, our alerts allow traders to redirect orders to an available broker well in advance.”
InfoReach’s TMS execution management system allows clients to trade equities, futures and options. It currently has over 140 connections to trading venues and liquidity sources globally and offers access to algorithmic strategies from 28 brokers.