NYSE MatchPoint, a block trading facility provided by the New York Stock Exchange, has joined trading solutions provider Tradeware’s FIXLink global connectivity network. As a result, Matchpoint can be accessed through Tradeware’s MarketCenter application.
According to Tradeware, FIXLink serves as a “liquidity grid” for global order flow, providing electronic access to markets worldwide. This latest initiative adds to the direct connectivity that Tradeware has provided to NYSE for the last 15 years.
NYSE MatchPoint is a portfolio-based, point-in-time electronic exchange facility that matches aggregated orders at predetermined times with no market impact. The facility trades securities listed on all major and regional US regional stock exchanges.
“As brokers and investors try to get liquidity on demand, there is concern regarding information leakage, execution control, and finding a truly natural contra-side,” said James Ross, vice-president of NYSE MatchPoint, in a statement. “When we examined partnering for global liquidity, Tradeware met all of our criteria. We believe this relationship will serve to enhance liquidity opportunities for both MatchPoint and its end clients.”
Charles Giessen, president of Tradeware, added, “It is our goal to provide the underlying grid into which brokers, vendors, and other market participants can link. With NYSE MatchPoint we will continue to enhance access to global capital markets and improve the flow of capital worldwide.”