Skyler and Fixnetix Partner for Hosted Aggregated Order Book Service
At 11 Jun 2008 11:28:49 in SIFMA TMC, SIFMA TMC News & Views, STN3-From the Exhibit Floor
Skyler Technology Europe (booth # 3116) has signed a partnership agreement with Fixnetix to jointly offer a hosted aggregated order book service for their mutual customer base, which includes banks, asset managers, hedge funds and exchanges.
Valerie Bannert-Thurner, managing director of Skyler Europe, explains: “The aggregated order book service will be key for meeting the requirements of regulations such as MiFID and provides a fast and flexible trading tool.”
The firms have been in discussions for over a year and the product itself has been developed over the last few months, says Michael Lenahan, senior vice president of Skyler.
The Skyler C3 Liquidity Discovery solution aggregates the fragmented liquidity information delivered on the Fixnetix ultra low latency market data feeds into virtual aggregated order books to power smart order routing, algorithmic trading, and GUI based trading applications.
According to Skyler, the service provides an ultra low latency solution for fast decision making and the flexibility to request customer specific aggregated order books. It also has a low total cost of ownership, offers significantly reduced time-to-deployment and ease of integration by leveraging standard messaging infrastructure.