Linedata Services (Linedata) announced on Monday that its LongView order management system (OMS) will soon offer clients a synchronised solution to access Aqua, an equity alternative block trading system.
Aqua, which matches sell-side bids and offers with potential counterparties, aims to modernise electronic block trading between the buy- and the sell-side. "We are very excited to include Aqua in LongView's liquidity alliance partnership," says Gavin Little-Gill, product management and strategy, Linedata. "Aqua, paired with LongView, provides a high degree of security and offers our users greater liquidity," he adds.
Linedata says this solution allows firms to synchronise orders from the LongView trading system to liquidity destinations without all the problems of committed FIX orders. Aqua says it delivers the benefits of a system that manages orders of a blotter without being intrusive.
"We are creating a new paradigm for block trading, so it seems quite appropriate that we should be partnering with LongView, which is known for making and breaking the rules in the OMS space," explains Kevin Foley, CEO, Aqua. "Aqua is different and I am sure that LongView users will appreciate the added level of security and anonymity," he comments.