Liquidnet provides targeted invitations for algos in Europe

First launched in 2015, the targeted invitations were developed to help the buy-side access block liquidity.

Liquidnet has added its targeted invitations system to its Virtual High Touch service for algorithms in Europe.

The move means traders can add targeted invitation to an algorithmic order to gain access to block liquidity via Liquidnet’s dark pools, natural pool and public markets.

Chris Jackson, Liquidnet’s EMEA head of execution & quantitative services group, explained algos are increasingly differentiated by the liquidity they access.

“Targeted invitations for algos takes Liquidnet’s next gen algo suite to the next level by simultaneously accessing both Liquidnet’s pool and external liquidity to seek out latent large-in-scale block liquidity previously unavailable,” he added.

First launched in 2015, the targeted invitations are used to send invitations to qualified members within the Liquidnet community to seek out additional block liquidity.

The tool was initially developed for Liquidnet’s equities dark pool in Europe, but has since been rolled out for fixed income and in Asia and the US.

Mark Pumfrey, head of Liquidnet EMEA, commented with MiFID II around the corner, Liquidnet’s focus is on giving the buy-side the control they need.

“We are arming traders with the tools and technology that can break down barriers to the liquidity they need, so they can get back to helping their firms capture alpha and improve performance,” he said.

Liquidnet added the new functionality will be rolled out globally later this year.