Fidessa announced it collaborated with Thomson Reuters on a system that it says will provide buy-side traders with better access to sources of block liquidity.
The firm contends that in today's fragmented marketplace, it's become more challenging for the buy side to source liquidity. Further compounding this challenge are low trading volumes, falling commissions and increased regulatory pressure, Fidessa says.
The firm says the Thomson Reuters Autex service will help buy-side firms navigate some of these challenges by opening up access to one of the world's largest distributors of order indications and advertised trades. The platform also processes more than two million messages a day through a global network that includes some of the biggest buy and sell-side firms in the industry.
In addition, Fidessa says that by synchronizing this message traffic with open orders, and overlaying trade preferences and patterns, Autex enables buy-side traders to cut through large volumes to quickly access actionable and relevant indications of interest.
"By bringing all the tools our clients need into our trading platform, and intelligently tailoring the information, we have made it easier for them to access the broadest pool of liquidity and trade effectively in today's highly fragmented and low volume environment," said Russell Thornton, Fidessa's global head of buy-side trading solutions.