LONDON–(COMMERCIAL THREAD) – OpenFin, the operating system (OS) for business productivity, today announced that Turquoise Plato from LSEG (London Stock Exchange Group) is connecting to OpenFin in response to the industry’s need for efficient workflows, application interoperability and a more unified desktop experience for buy-side users and member companies.
Turquoise has a proven track record in providing innovation and liquidity opportunities in the market, with Turquoise Plato Block Discovery ™ having experienced record levels of block trading activity on Turquoise® and Turquoise Europe ™ in 2020. With this collaboration, Turquoise continues to fulfill its mission of identifying effective and collaborative operational models that reduce the implicit cost of trading, contribute long-term return on investment and stimulate sustainable growth.
Turquoise on OpenFin ™ provides insightful data flow directly into traders’ workflows to support liquidity discovery and decision-making processes by leveraging OpenFin’s open architecture. The API transmits Context objects conforming to the FDC3 standard and uses the OpenFin message bus to transmit this data to OpenFin compatible applications, including visualization tools, internal and third party applications.
Dr Robert Barnes, Group Head of Securities Trading & CEO of Turquoise Global Holdings, LSEG, said: “As a market operator, Turquoise is well placed to unite the industry around a common ambition: to collaborate, innovate and improve efficiency on the workstations of traders. This will not only support best execution efforts, but also improve the performance of end investors, as it will help us reduce slip costs at the point of execution. We are delighted that Turquoise® and Turquoise Europe ™ are the first trading platforms to connect to OpenFin and offer this new functionality to the buy side.
Adam Toms, European CEO of OpenFin, commented: “We are witnessing a continuous evolution towards more collaborative mentalities and platforms. With forward-thinking companies like Turquoise working with industry to create solutions that make the financial office more intuitive, automated and powerful, businesses can unleash the true potential of interoperability and contextual workflows on their desktops. financial. The operational complexity and costs resulting from bilateral integrations are quickly becoming a thing of the past, as users can now access the right tools and datasets, directly integrated into their workflows, delivering powerful capabilities and tangible results.
Tom added: “Collaboration and innovation are at the heart of our mission to simplify application distribution, unify the digital workspace, and enable seamless communication and workflows between applications. We are very excited to be working with Turquoise to bring to life and commercialize new, visionary models of collaboration. ”
OpenFin provides a common web operating system layer across the financial services industry to power next-generation desktop applications and experiences. OpenFin technology is deployed on 300,000 workstations across the industry, powering more than 3,500 applications in more than 2,400 buy-side and sell-side businesses in more than 60 countries.
FlexTrade Systems will be the first to deliver Turquoise data feed in its flagship EMS via the OpenFin message bus. Traders can then act on this data, automate processes and take advantage of emerging liquidity opportunities. Built-in visualization capabilities ensure that Turquoise Plato Order Books ™ block trading activity is easy to digest and interact with afterward.
Andy Mahoney, Managing Director, EMEA at FlexTrade Systems, added: “We are excited to be working with Turquoise and OpenFin to support liquidity discovery and execution opportunities, and deliver tangible benefits to the buy-side trading desk. It helps our clients customize their execution workflows, perform optimally on every trade, and achieve the best execution without compromise.
Hurry up. Don’t break anything. OpenFin is the operating system for business productivity, enabling application distribution, workspace management and workflow automation. Used by 90% of global financial institutions, OpenFin deploys more than 3,500 desktop applications in more than 2,400 businesses on the buy and sell side. OpenFin investors include Bain Capital Ventures, Barclays, CME Ventures, DRW Venture Capital, HSBC, JP Morgan, NYCA Partners, Pivot Investment Partners, Standard Chartered, and Wells Fargo Strategic Capital, among others. The company is based in New York with an office in London and a presence in Hong Kong.
FlexTrade Systems is a global leader in high performance multi-asset execution management and order management systems for stocks, fixed income, currencies, futures and options. A pioneer in the field, FlexTrade is internationally recognized for introducing FlexTRADER®, the first neutral execution management trading system for brokers, which allows clients to fully control and customize their execution flows with comprehensive capability research / access to liquidity while maintaining the confidentiality of their trading strategies.