London-based trading technology vendor FIX CITY says agency-only broker OCM Capital Markets has selected ioinet, its indication-of-interest (IOI) distribution product, to support its global equities trading desk.
OCM will use ioinet to deliver IOI messages on stocks throughout the world to buy-side firms, according to the geographies or sectors they are dealing in.
OCM’s IOI distribution, via ioinet, will work alongside its proprietary algorithmic trading platform, enabling clients to achieve greater efficiency in trading strategies and secure best execution, says the firm.
“OCM uses next-generation technology to facilitate the most competitive trading strategies,” says Leslie O’Malley, chief executive officer, OCM Capital Markets. “By taking advantage of ioinet’s capabilities, along with offering the latest in algorithmic trading, OCM ensures its clients achieve best price execution across many order types for both liquid and illiquid stocks,” adds O’Malley.
ioinet’s WatchList functionality automatically notifies buy-side firms about IOIs on select securities, ensuring they are made aware of potential trading opportunities.
“As a pure agency-only broker, OCM never competes with its clients’ interests,” says Amy Muddimer, director, FIX CITY. “By taking advantage of ioinet’s targeting tools the firm can ensure key clients are the first to receive its indications on stocks, as soon as they are available. This speeds up the trading process and drives order flow at competitive prices,” she continues.