NYSE Technologies, the commercial technology unit of exchange group NYSE Euronext, has launched ioinet v2, a new version of an indications of interest (IOI) tool designed to help buy-side traders find liquidity.
According to NYSE Technologies, ioinet v2 gives traders the flexibility to create personalised perspectives on trade information, which the firm believes will increase their ability to find and be alerted to liquidity. Traders can use the customisable approach to compare broker liquidity and identify trends.
The new ioinet also includes additional trading analysis data and services from NYSE Technologies and other third parties, and allows the creation of custom watch lists, tickers and alerts that keep traders informed in real-time on the stocks they are looking to trade.
“In today’s highly fragmented markets, we wanted to free traders from the boundaries of traditional IOI services and enable them to seek and find liquidity quickly in ways they haven’t been able to before,” said Bob Moitoso, senior vice president at NYSE Technologies. “With the unique and dynamically updated perspectives traders can generate with this new class of IOI service, we believe our clients will find liquidity they would have otherwise missed, make better trading decisions, and gain a competitive advantage.”
“The power and control provided by the new ioinet solution enables us to offer our clients the ability to quickly create on demand dynamic views of the rapidly changing liquidity landscape,” added Paul Scott, head of liquidity discovery at NYSE Technologies. “This is a vitally important new benefit to be able to offer clients as it is no longer acceptable to depend solely on the traditional static views of limited data sets.”
NYSE Technologies acquired the original ioinet service as part of NYSE Euronext’s purchase of trading solutions firm NYFIX, completed in November last year. NYFIX relaunched ioinet in January 2009, having bought the tool from FIX solutions vendor FIXCITY the previous year.
Ioinet receives its content via the NYSE Technologies Marketplace, a community of more than 1,000 buy- and sell-side market participants also acquired through the takeover of NYFIX, and can be accessed through third-party order and execution management systems and market data platforms.