US broker-dealer IRC Securities has teamed up with block trading venue operator Pipeline Trading Systems, giving its clients the ability to generate research credits by executing trades on the platform.
Pipeline's platform consists of Block Board, an interface that sits on a buy-side trader's desktop and alerts them to potential matches and Algorithmic Switching Engine, which uses predictive technology to select from a range of vendor-provided execution algorithms to minimise market impact.
Clients of IRC Securities, an equities and derivatives broker that works with both buy-side institutions and research-led trading organisations, will now have access to Pipeline and be able to allocate research credits to independent providers by trading there.
The deal will give IRC and its research partners a share of the commissions generated by trades completed on Pipeline.
“Pipeline has an innovative Algorithm Switching Engine that we can offer our buy-side clients. It's an easy-to-use, advanced execution system that connects via FIX to the client's existing execution management systems,” said Brian O'Day, CEO of IRC Securities.