Virtu links SI to Fidessa’s market access services

Virtu and Fidessa have entered into a liquidity agreement as MiFID II rules sweep the industry.

Virtu Financial’s systematic internaliser (SI) will connect to Fidessa’s market access services under a new agreement in the wake of MiFID II.

The partnership will allow Fidessa’s clients access to Virtu’s disclosed liquidity and recently upgraded workflow to manage the new trading environment under the updated European regulation.

“MiFID II is reshaping the liquidity landscape as trading migrates to more transparent and disclosed SIs and away from broker crossing networks and dark pools,” said James Blackburn, global head of equities product marketing at Fidessa.

“At the same time, the focus on best execution has never been greater and now extends formally to the buy side as well.”

Virtu’s SI price feeds are to be integrated with Fidessa’s smart order routing and market access tools so additional venues will sit alongside traditional sources of liquidity.

Fidessa’s order handling technology will allow users to manage all order flow across lit venues, SIs and block trading venues that have emerged since MiFID II came into effect.

“This level of collaboration is helping to build the platforms of the future and drive efficient access to competitive liquidity,” added Christiaan Scholtes, head of EMEA markets at Virtu.