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Squawker® and SIX Financial Information Form Partnership

Squawker Participants to Execute pan-European Block Trades Always at Consolidated Mid-Price and Consolidated VWAP

 
PRLog - Jan. 21, 2013 - London (UK) – Squawker®, the negotiation venue for sell-side block trading, and SIX Financial Information, today announced the signing of a new partnership. According to the agreement, SIX Financial Information will supply Squawker with real-time, pan-European market data via its flagship product Market Data Feed (MDF) allowing Squawker participants to execute pan-European block trades always at consolidated mid-price and consolidated VWAP. The announcement, which comes shortly after news of Squawker’s addition to the BT Radianz Cloud, underlines the new venue’s commitment to building solid relationships with robust, quality and trusted financial services providers.

From the venue’s go-live, scheduled for March 2013, Squawker will use SIX Financial Information’s pan-European data to populate its entire suite of instrument masters. Real-time data will enable Squawker to calculate consolidated mid-price and end-of-day consolidated VWAP prices. It will drive fat-finger checks and deliver data relating to exchange open/closing changes, as well as trading halts and resumptions information.

Christopher Gregory, co-founder and CEO, Squawker, comments: “Squawker’s collaboration with SIX Financial Information is crucial to the venue’s success. Using SIX Financial Information’s data via the Squawker platform, Squawker’s sell-side trading participants of mid-price interest will always execute at the consolidated mid-price of Europe’s national exchanges and major MTFs. Similarly, VWAP-interested participants will be able to agree a block trade at any point throughout the day that is guaranteed to execute at the day’s consolidated VWAP price.”

Martin Cole, Managing Director, SIX Financial Information UK Ltd, comments: “Squawker has the potential to redefine the way the market trades block sizes. No longer will firms need to slice up their large trade sizes and drip them slowly into the market over a period of time, risking impact cost or the unwanted attention from detrimental algorithmic flow. SIX Financial Information’s high quality and comprehensive coverage coupled with its real-time data availability delivers upon Squawker’s sell-side trading community data reliability requirements.”

MDF is a high performance, real-time global market data service delivering consolidated market information from exchanges, multilateral trading facilities (MTFs) and institutional contributors. MDF is particularly well suited for feeding applications which demand mid to high range data throughput.

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About Squawker®
www.squawkertrading.com

Squawker® is an interactive, electronic, block trading negotiation venue that enables investment banks, market makers, agency brokers, proprietary and principal trading firms to find liquidity, negotiate and execute block trades in a secure and anonymous forum.

Harnessing the benefits of personal interaction with end-to-end electronic transaction processing, compliance monitoring and audit trail, Squawker uses opaque social networking technology to create a forum for the structured negotiation of trades. On Squawker, traders build and execute block trade size. With every trading decision made by a human being, Squawker is the world’s first toxic-free* electronic trading venue.

Squawker Ltd is a UK-registered company. Headquartered in London, Squawker is approved and regulated by the UK's Financial Services Authority (FSA).

*Toxic-free
Every trading decision on Squawker is made by a human being, not by computer-generated algorithms which may attempt to game other counterparts’ order flow. Being free from algorithms makes Squawker a toxic-free electronic trading venue.

About SIX Financial Information
www.six-financial-information.com

SIX Financial Information is a leading global provider of first-rate data services and solutions for financial and insurance firms, corporations and the media. SIX Financial Information aggregates data, directly and in real-time, from over 1,500 worldwide sources, covering all the major trading venues. Its financial information comprises reference data, corporate actions, pricing and market data for over 10 million instruments and is unique in terms of information depth, breadth and structure. Financial news and customized solutions complement the offering. With 24 international offices SIX Financial Information combines the advantages of local presence with global reach to offer a comprehensive data portfolio along with industry knowledge for professionals specialized in investment advisory, portfolio management, financial analysis and securities administration.

SIX Financial Information is part of SIX. On a global scale, SIX offers first-rate services in the areas of securities trading, clearing and settlement, as well as financial market information and payment transactions.

Media Contacts

Squawker
 Link with Squawker (http://www.linkedin.com/company/squawker-ltd?trk=hb_tab_c...)

Julia Royle

T: +44 7961 103521
julia.royle@squawkertrading.com

SIX Financial Information

Elizabeth Coleman

T: +44 20 7550 5191
elizabeth.coleman@six-group.com

Amira Abdel Aziz
T: +41 58 399 5154
Amira.AbdelAziz@six-group.com  

Jürg Schneider
T: +41 58 399 2129
pressoffice@six-group.com

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Contact Email:
***@squawkertrading.com Email Verified
Source:Squawker
Country:United Kingdom
Industry:Banking, Technology
Tags:exchange, mtf, equities, trading, market data
Shortcut:prlog.org/12062048
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