ODL Capital Enhances Pre-Trade Efficiency Through ioinet, FIXCITY’s Highly Configurable Indication of Interest (IOI) Messaging Solution
London, UK, 19 March, 2008 – FIXCITY, a global software provider of FIX IOI solutions, today announced that London-based institutional equities house, ODL Capital (ODLC), has gone live with FIXCITY’s Indication of Interest (IOI) distribution product, ioinet.
ioinet enables ODLC to step up its distribution of liquidity in equities and more rapidly secure orders from buy-side firms.
ODLC’s IOI messages on available stock can be delivered to buy-side firms using ioinet’s customisable web interface, or direct to Order Management Systems and Execution Management Systems, via a FIX feed.
ioinet enables ODLC to strategically target messages, through a wide range of distribution options, and continuously update information, according to its trading objectives.
Andy Rowland, head of ODL Capital, comments: “ioinet offers an innovative tool for communicating with the buy-side. It further enhances our institutional offering and complements our ever growing product suite.”
Paul Scott, director, FIXCITY adds: “With the growing number of trading destinations available to the buy-side, locating liquidity has become a complicated process. ioinet allows brokers to quickly and efficiently reach potential trading partners, removing the need to seek out liquidity.”
Press enquiries to:
Nicolle Farthing/ Viviana Vigano, Cre8 Results Limited
Tel: +44 (0)20 7734 9199
FIXCITY is an independent specialist in web-based, global electronic trading solutions. Its innovative, platform-agnostic FIX solutions facilitate communications between the buy- and sell-side. ioinet, FIXCITY’s flagship product, takes a new approach to Indication of Interest (IOI) distribution. Operating across the UK, Europe and the US, ioinet’s sophisticated filters and IOI analysis tools enable finely-targeted messaging; priced on a per-destination basis. This allows its community of leading buy- and sell-side firms to concentrate on their core trading activities.
ioinet offers two modules for aggregating IOIs and Trade Adverts (TAs). ioinet:stream, provides a repository for buy-side firms to aggregate and view IOI data sent directly from brokers or via alternative distribution networks. ioinet:book allows brokers to have a consolidated view of all the IOIs they have sent via direct connections or alternative distribution networks to clients. ioinet:stream and ioinet:book also combine additional broker data with pre- and post-trade market data enabling further detailed analysis.
Established in 2002, FIXCITY is headquartered in London with offices in New York City. FIXCITY’s dynamic approach to servicing the needs of the rapidly changing electronic marketplace has established its position as a leading provider of front office decision and execution support tools.
About ODL Capital
ODL Capital (ODLC) is the capital markets division of ODL Securities Limited. It specialises in offering quality equity trading services to the global buy-side community. ODLC’s product suite includes full sales trading, market making, DMA, algorithmic trading and independent research in the European and North American markets. ODL Securities is authorised and regulated by the Financial Services Authority. It is a member of the London Stock Exchange and Euronext.liffe.
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