FIX CITY Partners with Fidessa to extend IOI collection network
London, 26th April 2006 - FIX CITY, a global software provider of FIX Indication of Interest (IOI) solutions, today announced its partnership with royalblue (LSE: RYB), provider of Fidessa®. The partnership will link Fidessa's global connectivity network of sell-side firms with FIX City's IOI and Trade Advert (TA) distribution product ioinet, significantly growing FIX CITY's UK broker community.
Under the partnership, ioinet will be integrated with the Fidessa platform using a FIX connection. The newly-integrated solution will allow Fidessa-connected brokers to send targeted IOIs and forward TA messages to ioinet's community of buy-side firms directly from their Fidessa trading platform. The connection will go live in Q3 2006.
The deal will provide buy-side firms on the ioinet network with a more accurate picture of the available liquidity in securities. Firms will also gain access to a wider community of brokers, enabling dealers to capitalise on opportunities and quickly identify the most suitable trading partners.
Simon Barnby, Global Director of Marketing Communications, Fidessa, comments: "As a specialist product for the distribution of pre-trade and post-trade liquidity information, FIX CITY's ioinet offers our broker clients additional coverage for their IOIs and TAs. We are pleased to be expanding the list of buy-sides we can offer to our clients, and we look forward to working closely with FIX CITY."
ioinet combines an intuitive, easy-to-use interface with sophisticated analytical and filtering tools for targeted IOI distribution. The solution allows connected brokers to send targeted messages that pro-actively alert buy-side dealers to new trading opportunities.
Paul Scott, Director, FIX CITY adds: "Fidessa leads the field for trading solutions, serving a large section of the broking community, and this deal comes in response to demand from our clients. This partnership provides ioinet with a greater number of destinations on the sell-side. In particular, it will add a number of brokers to our community that previously would have had to manually enter IOIs. For these firms, the integration with Fidessa will significantly reduce workload and the risk of manual errors, speeding up the distribution of their liquidity."