Aqua presents an alternative take on block liquidity trading platforms by receiving offers and narrowcasting them to buy-side traders with the option - but not the obligation - to trade. The model aims at modernizing electronic block trading between the buy-side and the sell-side, which had not advanced beyond traditional methods because of concerns over sensitive order information seeping into the market.
"We are very excited to include Aqua in LongView's Liquidity Alliance Partnership," said Gavin Little-Gill, Product Management and Strategy, Linedata Services. "Aqua's model for secure integration of the sell-side at the block trading destination, paired with LongView, will provide a higher degree of security and offer our users even greater liquidity."
This solution allows firms to synchronize orders from the LongView Trading System to liquidity destinations without all the problems of committed FIX orders. This integration is quickly making traditional FIX integration methods far less desirable. Aqua delivers the benefits of a system that manages orders of a blotter without being intrusive. Aqua also matches sell-side bids and offers with potential counterparties.
"We are creating a new paradigm for block trading, so it seems quite appropriate that we should be partnering with LongView, which is known for making and breaking the rules in the OMS space," said Kevin Foley, Aqua CEO. "Aqua is different and I am sure that LongView users will appreciate the added level of security and anonymity."