FIX CITY, a global software provider of FIX applications, has formed a partnership with Portware, a provider of execution and order management technology. The partnership aims to deliver an integrated Indication of Interest (IOI) distribution and trading tool to Portware’s buy-side clients.
It links FIX CITY’s ioinet application and Portware’s Execution Management System (EMS), providing buy-side firms with access to pre-trade decision support and the ability to receive IOIs directly into their order blotters. The integrated solution delivers IOIs directly into Portware’s EMS and buy-side clients’ order blotters through a dedicated FIX session. “ioinet offers a comprehensive source of broker IOIs and Trade Adverts coupled with innovative functionality,” says Stuart Adams, the Head of European Operations at Portware. “The combined solution gives our buy-side clients access to streamlined pre-trade information and the ability to seamlessly convert IOIs into orders from their order blotter and improve the efficiency of the trading process.”
“Portware is proactively driving the execution management space forward,” adds Paul Scott, the Director of FIX CITY. “Together, with ioinet, we have developed an all-round solution to enable buy-side clients to effectively manage IOIs. With hundreds of thousands of IOIs being delivered to dealers on a daily basis, the ability to focus on those that are most likely to result in orders adds significant value to the trading process.”