NYFIX, Inc., a provider of applications that optimize trading efficiency, introduces NYFIX ioinet. A liquidity discovery application, NYFIX ioinet takes Indications of Interest (IOIs) to the next level by combining the advanced analytic and filtering capabilities of ioinet.
Ioinet was acquired along with FIXCITY in April 2008, with IOI content contributed by brokers who are part of NYFIX Marketplace community.
NYFIX ioinet combines sophisticated analytic tools and broad global IOI content tpgether with proprietary and 3rd party order management system (OMS) workflow integration. NYFIX ioinet’s front-end functionality includes in-depth analysis tools that help buy-side traders compare indicated liquidity with actual traded volumes, helping them better gauge with whom to trade and where to locate securities.
Flexible filtering capabilities enable the creation of custom watch lists, tickers, and alerts that keep traders informed in real-time on the stocks they are looking to trade. NYFIX ioinet also works to the sell-side’s advantage by increasing the chances that their IOIs will be taken seriously and acted upon more regularly.
“Buy-side traders are looking to take advantage of block opportunities any way they can, and with brokers committing less capital to trading, IOIs become an increasingly valuable tool for sourcing size,” says Laurie J. Berke, senior consultant, TABB Group.
“NYFIX ioinet aggregates liquidity and delivers straight to traders’ desktops the real-time information they need to make the best trading decisions,” says Bob Moitoso, global head, FIX Division, NYFIX. “Our plan is to use ioinet as a platform to deliver a steady stream of additional trading information and tools that will make it even easier for clients to find the natural liquidity they are looking for.”
“NYFIX ioinet’s dynamic approach to IOIs is refreshing,” says Martin Ekers, head of Dealing, Northern Trust Global Investments, London. “With its configurable WatchList we can see IOIs on stocks of interest at all times. The solution makes it a lot easier to manage the vast volumes of pre- and post-trade data that we receive.”
“As a founder of FIXCITY, it’s exciting to see ioinet integrated with the NYFIX Marketplace at a time when IOIs are seeing a resurgence as a primary source for liquidity discovery,” says Paul Scott, global head, IOI business, NYFIX. “ioinet has quickly matured into a global platform that helps clients find liquidity while minimizing market impact and information leakage.”
L.D.