EliData’s solution RFQ for ETF: innovation and efficiency first in the world

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The first feature in the world that automates RFQ process connecting markets to ETF trading platform

C-RFQ is the first feature in the world that automates the RFQ process for ETFs thanks to its direct connection with trading venues and with the market leader Bloomberg RFQe platform.

Totally integrated into CTS (Caronte Trading System), the new solution automates the Request for Quote process for ETFs, allowing the client to optimize their trading strategies, through centralized and complete monitoring of the workflow.

Thanks to the innovation introduced with C-RFQ, the data so far exclusively usable by Bloomberg Terminal, they also become so from a multi-market and multi-channel trading application.

Integration with Bloomberg so allows, the Trading Desk, to have a flexible and dynamic tool for their business strategies. One of the applications is the immediate and fully automatic transfer of RFQs received from the markets directly to Bloomberg, increasing and enhancing the execution possibilities.

C-RFQ allows the customer to have total vision and control of the entire process relating to the RFQ from a single platform connected to both the markets and the Bloomberg platform (through DOR - Direct Order Routing Price Taker workflow). The first market model currently successfully integrated into the EliData solution is the one of Borsa Italiana.

The C-RFQ solution is used by the Mediobanca Trading Desk since the end of June 2020, with intensive use of the new functionality that has immediately collected very positive feedback for efficiency, interconnection and speed of action.

EliData is the first in the world to offer this feature for ETFs; the middle term’s goal is to implement it also on other ETF market platform and expand the coverage also for bond.

Vito Pinto, Director Equity Manager, Mediobanca, said: "The C-RFQ solution allows us to operate in a fast and automatic fashion from a single platform, CTS, being connected simultaneously to the markets and to Bloomberg RFQe. We are very satisfied with the EliData’s solution as it allows us to optimize the time spent on RFQ operations, improving the quality of our daily activities and of our business. "

"The great advantage of C-RFQ is the potential in terms of applicability of the connection to the multiple market platforms, which allows the Market Maker to operate in a simple way from a single platform, avoiding to incur the risk of latency due to any manual insertions and use of different applications", explains Marco Connizzoli, CEO of EliData, and continues: "We are constantly moved by the research of innovative and quality solutions that may allow our customers to operate on efficient and increasingly multi-connected applications".