Itiviti connects to Hudson River systematic internaliser

Itiviti’s clients will gain access to Hudson River’s liquidity through its systematic internaliser.

Trading technology specialist Itiviti has provided its clients with connectivity and liquidity from Hudson River Trading’s systematic internaliser (SI).

The connection means Itiviti’s customers will have access to liquidity sourced from the electronic liquidity provider’s SI, covering more than 1,000 European stocks. Hudson River’s SI was previously operated by Sun Trading before its integration earlier this month and following a merger between the two firms.

The systematic internaliser regime was revived under European regulation MiFID II, however, asset managers have reportedly been cautious and reluctant to connect directly to SIs operated by market makers due to lingering concerns around transparency.

“MiFID II has brought sweeping changes industry-wide, with increased counterparty transparency available through the SI regime,” said Jamal Tarazi, director of European business development at Hudson River Trading.

“The continued demand for our bespoke liquidity offering is a testament to the execution quality offered by our SI. We are pleased to offer clients seamless and cost-efficient connectivity to Hudson River Trading’s liquidity through Itiviti’s connectivity solutions.”

Richard Bentley, chief product officer at Itiviti, added that making Hudson River Trading liquidity available to its clients will be an attractive option for firms exploring the reshaped European market landscape.

“Itiviti’s commitment to quickly providing access to new systematic internalisers as and when they become available provides a distinct advantage to our clients, adding business value beyond regulatory compliance.”

Itiviti completed its merger with ULLINK earlier this year, creating a combined entity with more than $200 million in revenues, 1,000 employees and a local market presence in all major markets in Europe, Asia and the US.