EliData has completed the FIX integration with Virtu Financial’s RFQ-hub, the bilateral multi-asset and multi-dealer request for quote platform that connects buy-side trading desks and portfolio managers with their liquidity providers. Virtu is a leading provider of workflow technology and analytics, and its RFQ-hub product centralizes the workflow, helping clients discover the best price for listed and over-the-counter instruments.
As a result of the integration, EliData's C-RFQ solution will help liquidity providers access FIX connectivity, automate their workflow with RFQ-hub, and centralize the ETF flow originating from different sources.
Marco Connizzoli, CEO of EliData said: "The goal that EliData sets itself is to make the request for quote process increasingly efficient, by expanding the possibilities we reserve for trading desks, allowing them to have a range of tools that optimize trading activity. We believe that the strength of the integration between winning systems will bring great benefits in terms of results and satisfaction to our customers."
“Rolled out during the fourth quarter of 2020, the integration will help RFQ-hub further extend its network of automated quoting counterparties, as per driven by asset managers in particular, and enhance its integration into the liquidity providers’ systems,” said David Angel, Head of Continental Europe at Virtu Financial. “Clients value the ease and convenience of integrated systems, our partnership with Elidata is just another example of Virtu’s capacity to innovate and help clients develop their business.”