Agency broker and trading technology provider Bloomberg Tradebook has launched Global Tradebook Trade Analytics (GTTA), a tool that helps users find liquidity in fragmented markets, in Europe.
GTTA identifies where Bloomberg Tradebook’s Smart Order Algorithmic Routing (SOAR) algorithm has found liquidity and allows users to see in real time where trades are being executed on an order-by-order basis. A screen within the tool provides price level data for each trading venue and a historic audit trail.
“In light of the growing fragmentation of the market and MIFID requirements, we believe that showing market participants as much information as possible about where and how there trades are being handled is imperative,” said Gary Stone, director of research and strategy for Bloomberg Tradebook, in a statement. “We believe GTTA is a function that will greatly assist both buy- and sell-side market participants with important market intelligence about trades.”
GTTA is Bloomberg Tradebook’s latest product designed to help traders deal with market fragmentation. Last year the firm launched BMQ, a consolidated tape for Europe, Japan and Canada.