Winterflood Signs IOI Distribution Agreement with Autex
Agreement includes the Autex SMART algorithm which routes dealer liquidityto the buy-side based on their actual order flow
16 June 2010, Jersey City, NJ -- Tradeweb, a leading provider of online markets, announced today that Winterflood Securities Limited is the latest sell-side participant to join Autex, the pioneer in IOIs and FIX connectivity.
Winterflood, one of the UK's leading electronic market makers, will distribute Indication of Interest (IOI) content for European small, medium and large cap securities, giving institutional investors across the network valuable liquidity in these issues. Using the Autex SMART IOI algorithm, Winterflood will be able to more accurately route IOIs to clients and target prospects.
"We are pleased that Winterflood has joined the Autex network," said Robert Warshaw, Managing Director of Tradeweb. "Their expertise in European small- and mid-cap securities provides valuable liquidity to the Autex buy-side community."
John Heaney, Connectivity Manager at Winterflood, commented, "We are delighted our clients will now be able to receive our Indications of Interest and Trade Adverts via the Autex network. This complements our institutional offering and further enhances our electronic trading services."
An Autex SMART IOI is Natural liquidity that supplements a sell-side broker-dealer's original list of targeted addresses with additional buy-side clients who are actively trading on the contra side. Broker-dealers also have the option of blocking same-side clients. This helps sell-side firms complete more trades and exposes buy-side institutions to additional pools of liquidity based on their trading activity over the Autex Trade Route network. SMART IOIs have been shown to be twice as effective in leading to trades as traditional IOIs.
Autex is owned and operated by Tradeweb, a leading provider of online markets and a pioneer in the development of electronic trading and trade processing. Tradeweb provides services in the fixed income, derivatives, and equities markets to clients in more than 50 countries. The Autex equities products, established over 40 years, include state-of-the-art solutions for discovering market liquidity such as Autex SMART IOIs, Autex Global TCA and Autex BlockDATA. The Autex Trade Route network, a leading global FIX network with more than 8,500 connections to over 1000 firms, offers streamlined connectivity and the ability to support the complete trade lifecycle. Tradeweb is owned by Thomson Reuters and ten leading global dealers.
For more information, please visit www.tradeweb.com/businesses/equities