FIX-enabled Omiris Networks announced today the signing of an agreement with Archipelago, a leading American ECN. The agreement will provide Omiris members with direct fully electronic connectivity to the Archipelago ECN. The partnership strengthens Omiris Networks’ capability to offer its network members the ability to transact securities worldwide in the most efficient and cost effective manner.
Archipelago provides a technologically advanced order entry and execution platform for Nasdaq and listed stocks. Archipelago matches orders against an internal liquidity pool or finds the best price for orders using a proprietary algorithm. Its leading-edge technology, open architecture, and innovations facilitate best execution for investors.
“Archipelago has signed an agreement with Omiris Networks to offer direct market access to Archipelago ECN to Omiris network members,” said Sam Long, General Manager of Archipelago Europe. “We have been working closely with the Omiris team and have already established trading relationships with significant European institutions that are on the Omiris system. We see this as a great opportunity for us and it is an integral part of our European growth strategy. It presents both companies with a significant opportunity and we are looking forward to developing the relationship going forward.”
Omiris Networks provides its members with the ability to transact securities regardless of location, allowing access to operational efficiencies enjoyed by domestic counterparties within their own markets. The Network allows members to greatly improve the overall efficiency of their cross border trading activities, providing a single integrated electronic platform capable of T+1 or T+0 settlement.
“We are committed to providing our members with efficient trade execution at significant cost reductions. Archipelago’s ability to offer quality and efficiency of execution and an extremely low total cost at the level of market impact and settlement will be a compelling service to our network members,” commented Charles R. Giessen, chief executive officer of Omiris Networks. “Furthermore, as Archipelago is a major American ECN, this agreement represents a significant milestone in Omiris’ continued development and we are very excited about its growth potential.”