Tower Research Capital is the latest firm to link up its systematic internaliser (SI) to Fidessa’s Intelligent SI Liquidity program.
The partnership will allow Fidessa clients to access Tower Research’s liquidity in the wake of new rules under MiFID II. In February, Fidessa announced a similar partnership with Virtu Financial.
Tower’s SI price feed will be integrated into Fidessa’s smart order router (SOR) and market access layer, to be consumed alongside traditional sources of liquidity.
“As the new SI players enter the market it’s important for brokers to have choice, but this choice needs to be managed within a framework that promotes best execution,” said James Blackburn, global head of equities product marketing at Fidessa.
“And, with our customers also seeking new ways to access block liquidity from LIS venues, we felt it was important to have one integrated approach across the entire liquidity spectrum. Fidessa is committed to providing a single point of entry to major sources of SI liquidity alongside existing dark and lit venues.”