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Fixed Income Trading: New venues

How many new Fixed Income trading venues are there?  [150]  A simple question came up recently in a conversation – how many new Fixed Inco...

Tuesday, 13 March 2018

Ah but... An (imaginary) rebuttal from Block Trading and Fixed Income Venues

Following on from our earlier post Block Trading Venues and Fixed Income Trading Venues: Twins, separated at birth? an (imaginary) rebuttal on behalf of Block Trading and Fixed Income Trading Venues...


We read your blog post Block Trading Venues and Fixed Income Trading Venues: Twins, separated at birth? and there is some considerable merit to your question - "When will the venues (block equity and fixed income) get out of the desktop real-estate battle?"

Try and look at this from our side.  We work hard to add value for our clients.  We need to get our innovations out to the buy-side as soon as we have tested and are happy that this will add value for our clients.  If we were not in the buy-side desktop real-estate business we would have to rely upon the buy-side OMS and EMS vendors to certify our changes and provide UX and FIX connectivity that matches our intentions.  Yet while we see some vendors being reactive and supporting innovations such as FIX ATDL, other vendors are happy to sit back, create ugly and unhelpful tickets and charge us a lot of money.

If we could partner in a meaningful way with an AUM adjusted majority of the buy-side OMS and EMS vendors and get delivery to buy-side desktops at the pace we need, then we will walk away from the desktop real-estate battle.

At this point your author feels compelled to mention FIX Orchestra.  Which is the actual solution to this problem, it's the full-stop at the end of FIX.
A Dear John letter, some time ago


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