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A-Team Insight Blogs

Fidessa and Virtu Partnership Provides Virtu SI Liquidity to Fidessa Solutions

Fidessa and Virtu Financial have partnered to give users of Fidessa’s market access solutions access to Virtu’s systematic internaliser (SI) disclosed liquidity, as well as improved upstream workflow to manage the more complex trading environment of Markets in Financial Instruments Directive II (MiFID II).

Virtu’s customisable SI price feeds are integrated to Fidessa’s smart routing capabilities and market access so that they can be consumed as if they were additional venues sitting alongside traditional sources of liquidity. Fidessa has also extended its advanced order handling capabilities to enable users to intelligently manage all their order flow across lit venues, SI operators, and the new Large in Scale dark pools that have emerged in the wake of MiFID II.

James Blackburn, global head of equities product marketing at Fidessa, says: “MiFID II is reshaping the liquidity landscape as trading migrates to more transparent and disclosed SIs and away from broker crossing networks and dark pools. At the same time, the focus on best execution has never been greater and now extends formally to the buy-side as well.”

Commenting on the Virtu partnership with Fidessa, Christiaan Scholtes, head of EMEA markets at Virtu, says: “This level of collaboration is helping to build the platforms of the future and drive efficient access to competitive liquidity.”

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