Aqua joins Fidessa’s global connectivity network providing an alternative venue for block trading
New York, 5th November - Fidessa Group PLC (LSE:FDSA), provider of the Fidessa and Fidessa LatentZero trading solutions for the sell-side and buy-side, today announced that Aqua, the alternative electronic trading venue, has joined Fidessa's global connectivity network.
This agreement enables equities traders at over 230 brokers and 1,300 buy-sides on Fidessa's network to access and trade untapped pools of block liquidity through Aqua. With over 20 Fidessa clients already signed up as founding participants, Aqua is planning a launch this November.
Aqua responds to the widespread demand among institutional equity traders for seamless and anonymous access to new block liquidity. Aqua receives firm bids and offers submitted by the sell-side, narrowcasting them to the buy-side with the option - but not the obligation - to execute those trades. The model creates linkages that facilitate block trading between buy-side and sell-side firms that haven't found each directly. It features a breakthrough method of order interaction with an unprecedented degree of information security.
"We are proud to offer a block liquidity system with no leakage," said Kevin Foley, CEO of Aqua. "Participants get access to new block liquidity with a simple system that reduces information leakage for the sell-side and totally eliminates leakage for the buy-side," commented Mr. Foley. "By solving the problem of information leakage, Aqua has made it safe for traders to reach for liquidity that previously involved taking more risk. That's how Aqua is able to deliver on the promise of new liquidity."
Martin Hakker, EVP of Marketing of Fidessa, comments: "As the number of alternative liquidity pools multiply, it is essential that Fidessa can offer its customers access to trading systems such as Aqua. Aqua fills a gap in the market for large block orders and, as the market evolves, Fidessa will continue to offer a robust, low-latency trading platform on which to trade and execute orders on the global markets."
The Fidessa product suite provides integrated multi-asset trading, market data and connectivity solutions to over 16,000 users at around 500 clients around the world, and serves over 85% of global, tier-one equity brokers. The Fidessa network provides connectivity to around 1,300 buy-side institutions, 230 brokers and 83 exchanges globally.
Aqua is a new electronic trading platform focused on creating access to new pools of block liquidity for institutions, brokers, and hedge funds. Based in New York, Aqua has received regulatory approval to operate as an alternative trading system for U.S. equities. Featuring block liquidity contributed by a broad range of sell-side firms, Aqua is the safest, most efficient and quickest tool ever created for electronic block trading between the sell-side and the buy-side. www.aquaequities.com.PDF (0.06 MB)