London Stock Exchange Group’s Turquoise Plato is connecting to OpenFin, an operating system for enterprise productivity, in response to the industry’s need for workflow efficiencies, application interoperability, and unified experience for buyside firms.
The connection will enable insightful data to be fed directly into trader workflows to support liquidity discovery and decision-making processes leveraging OpenFin’s open architecture.
“As a market operator, Turquoise is well-positioned to bring the industry together around a common ambition: to collaborate, innovate, and to improve efficiencies on traders’ desktops,” said Dr. Robert Barnes, Group Head of Securities Trading and CEO of Turquoise at LSEG.
“This will not only support best execution efforts but also improve performance for end investors as it helps us reduce the slippage cost at the point of execution.”
OpenFin provides a web-based OS layer specific to the financial services industry. As per the company data, its technology is being used by more than 2,400 buy-side and sell-side firms across over 60 countries.
“Operational complexity and costs arising from bilateral integrations are fast becoming a thing of the past as users can now access the right tools and data sets, surfaced directly into their workflows, delivering powerful capabilities and tangible results,” OpenFin’s European CEO, Adam Toms said.
It was also announced that FlexTrade Systems will become the first platform to deliver the Turquoise data feed into its EMS via the OpenFin message bus.
Traders can then act on that data, automate processes and take advantage of emerging liquidity opportunities. Built-in visualisation capabilities ensure the block trading activity from Turquoise Plato Order Books is easy to digest and subsequently interact with.
FlexTrade’s EMEA Managing Director, Andy Mahoney said: “We are delighted to work with Turquoise and OpenFin to support liquidity discovery and execution opportunities and bring tangible benefits to the buyside trading desk.”
©Markets Media Europe 2021