ION has expanded its Fidessa trading solution with the addition of a request for quote (RFQ) functionality, as well as integrating Tradeweb’s electronic platform for exchange traded funds (ETFs).
Adam Gould
The new offering will allow Tradeweb and Fidessa users to access enhanced automation and risk management spanning the entire trading lifecycle – from execution to settlement – to provide competitive pricing and workflow efficiencies, as well as a wider pool of global liquidity.
Adam Gould, global head of equities at Tradeweb, said: “This integration gives customers efficient access to Tradeweb’s advanced RFQ functionality, competitive pricing and deep pool of liquidity providers in a seamless and streamlined way.
“By leveraging Tradeweb’s ETF RFQ functionality, ION clients will unlock greater transparency, richer data insights and enhanced best-execution in their ETF trading strategies.”
Specifically, through enabling Tradeweb’s automated RFQ functionality and straight-through processing with Fidessa, the enhancement aims to address challenges faced by institutional investors participating in ETF trading, including manual intervention and operational inefficiencies.
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Robert Cioffi, global head of equities product management at ION, said: “This partnership advances the automation of ETF RFQ flow, making it easier than ever for Fidessa users to tap into diverse liquidity sources and achieve superior execution outcomes.”
The product expansion marks a further ETF-related development for Tradeweb in recent months. In November 2024, the firm announced a collaboration with the Tokyo Stock Exchange (TSE) to expand liquidity in Japanese ETFs, including the establishment of a direct link between Tradeweb and TSE’s RFQ platform CONNEQTOR.