Winterflood Securities has established two new connections to its Win-X service, which grants clients access to the broker’s internal liquidity or direct market access (DMA) service via FIX to external UK and European trading venues using its smart order router.
+TRADER, a provider of data-viewing and trading products, has announced that it will access Win-X and Winner, Winterflood’s internal electronic trading platform. The connection will allow +TRADER to offer its users DMA trading via Win-X. In addition to routing orders to leading European exchanges and multilateral trading facilities (MTFs), Win-X allows clients to route high-touch orders to sales traders.
The link will also allow +TRADER users to trade off-order book in Winner, which the company claims allows clients to benefit from a single fill and significantly reduced transaction costs by saving on exchange and MTF fees.
“Winterflood is an experienced DMA provider and with the largest stock coverage of any market maker in London gives a powerful combination for users of +TRADER,” said Doug Lawrence, head of sales, +TRADER, in a statement. “We have worked closely with Winterflood during pre-release testing of the +TRADER product suite and look forward to a successful future.”
In addition, Winterflood has joined investment bank Citi’s CitiConnect for Securities platform, which offers the bank’s clients access to a network of third-party brokers as well as Citi Global Markets for executing exchange-traded products (ETPs), which comprise exchange-traded funds and commodities.
The new link with Winterflood will allow Citi clients to route ETP orders via CitiConnect for Securities to Win-X for execution either in Winterflood’s internal liquidity pool or external exchanges and MTFs.
“Winterflood, as an ETP market maker, offers an unrivalled product depth, deep liquidity pools and market leading technology platforms that will compliment CitiConnect for Securities,” said Nick Titmuss, managing director, EMEA investor services, Citi.