Liquidnet has announced the latest innovation within the Liquidnet Virtual High Touch™ offering: the launch of Targeted Invitations for Algos in Europe.
Targeted Invitations allows buy-side traders to seek out additional block liquidity by sending actionable invitations within the Liquidnet community, while still keeping both sides of the trade anonymous. The multi-asset class technology was first launched for equities in 2015 and then expanded into fixed income in 2016.
Now with the launch of Targeted Invitations for Algos, traders can add a Targeted Invitation to an algorithmic order and achieve two things at once: 1) access the liquidity they need via Liquidnet’s natural pool, external dark pools, and the public markets; and 2) uncover hidden large-in-scale institutional liquidity held in reserve by fellow asset managers. This new functionality is available initially for European equities, ahead of a global roll-out later in 2017.
“Algos are increasingly differentiated by the liquidity they access,” said Chris Jackson, Liquidnet EMEA Head of Execution & Quantitative Services Group. “Targeted Invitations for Algos takes Liquidnet’s Next Gen Algo Suite to the next level by simultaneously accessing both Liquidnet’s pool and external liquidity to seek out latent large-in-scale (LIS) block liquidity previously unavailable.”
“With MiFID II around the corner, everything we do is focused on giving the buy-side the control that they need,” said Mark Pumfrey, Head of Liquidnet EMEA. “We are arming traders with the tools and technology that can break down barriers to the liquidity they need, so they can get back to helping their firms capture alpha and improve performance.”