Italian trading software developer EliData has integrated real-time market data sourced from QuantHouse’s QuantFeed API into its smart order router (SOR), arbitrage and best execution capabilities. The collaboration has already resulted in an implementation at a ‘major financial institution’ in Spain, and will be marketed jointly across Europe.
Using QuantFeed, EliData is able to provide consistent, normalised market data to clients in support of its trading capabilities. The arrangement means that EliData and its customers will benefit new market data feeds made available as QuantHouse on-boards them. QuantHouse currently handles some 145 exchange data feeds.
According to Gilles Antoine, EMEA business development director for at Quant House, “a major financial institution in Spain [has been able to] benefit immediately from the EliData-QuantHouse tie up. We consider Spain and Italy key markets and adding EliData as a local partner in Spain, Italy and wider across into Europe helps bring more choice of order execution to traders in the region.”
“In an increasingly fragmented world, financial institutions need access to a wide range of venues and asset classes to execute their orders, and QuantHouse expands our reach beyond our existing set of venues and systematic internalisers,” says Marco Connizzoli, CEO at EliData. “Our SOR was originally developed with MiFID I in mind and over time has been enriched to be MIFID II compliant, ensuring that our customers can meet their best execution requirements.”
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