Market data solutions firm Skyler Technology and Fixnetix, a connectivity provider, have entered into a partnership to host an aggregated order book service aimed at buy-side firms and exchanges.
The Skyler C3 Liquidity Discovery solution will aggregate fragmented liquidity information before being sent over Fixnetix’s low-latency market data feeds into virtual aggregated order books.
The service will support smart order routing, algorithmic trading and graphical user interface based trading applications.
The firms claim that the new service will offer advantages to clients including low total cost of ownership, the flexibility to request customer specific aggregated order books and significantly reduced time-to-deployment.
“With the increasing liquidity fragmentation in the European market space, we’re seeing an increasing demand for a fast and flexible aggregated order book solution,” said Hugh Hughes, CEO and chairman of Fixnetix, in a statement. “Fixnetix is all about delivering proven, end-to-end performance, and we believe the combination of our minimal latency connectivity and Skyler’s market data analytics will prove a powerful offering for today’s market.”