Global institutional trading network Liquidnet says it is integrating with seven Order Management Systems (OMS) to provide direct connectivity into the first dark pool for corporate bonds which is scheduled to launch in Q3.
“Our clients have asked us for a dark pool that enables them to match based on passive blotter-level dark liquidity,” says Constantinos Antoniades, head of Liquidnet fixed income. “By connecting to their existing order management systems, asset managers will have direct access to a protected venue that allows them to exchange natural liquidity with minimum effort and minimum information leakage. The functionality, protocols and connectivity of our dark pool will create significant new liquidity in the broader corporate bond universe - not just in the most liquid segment of the market.”
The OMS providers include Charles River Development, Eze Software Group, Fidessa, LineData and Thinkfolio, along with two other major vendors.
Says Paul Nokes, CEO, Fidessa Buy-side: "Against the backdrop of greater regulatory scrutiny and tighter capital adequacy requirements, our buy-side customers are finding it increasingly hard to access liquidity in the fixed income markets. Providing them with direct access to Liquidnet's dark pool for corporate bond liquidity is one of a number of key steps we've taken to ensure they can trade these instruments efficiently."
Added Scott Govoni, director of Strategic Alliances, Linedata: “Integrating with Liquidnet will drive new efficiencies in fixed income trading and is a key step in making the process more electronic. By expanding our partnership with Liquidnet we are able to drive higher levels of satisfaction across our global client base.”
