FIXCITY, an independent specialist in global electronic trading applications, said it plans to launch a multi-asset liquidity platform for Indications of Interest (IOIs).
ioinet, FIXCITY’s web-based IOI distribution product for equities, will be extended to include fixed income instruments and will significantly improve access to liquidity in the dispersed fixed income market, the company said in a statement.
FIXCITY will pilot ioinet fixed income with a selection of brokers and buy-side firms and plans to officially launch the module as soon as it is fully endorsed. ioinet’s architecture has been extended to receive, store and distribute liquidity for fixed income instruments.
“ioinet’s advanced functionality has proven hugely successful in the equities space and we aim to repeat this success in fixed income,” says Paul Scott, director of FIXCITY. “By providing a centralised service for brokers’ indications on fixed income names, ioinet fixed income will enable buy-side firms to quickly and effectively capitalise on market opportunities without having to reveal their positions — substantially reducing market impact.”