Nomura has added buy-side trading tools provider TradingScreen to its list of vendor connections in Europe, as the Japanese bank rebuilds links to the electronic trading platform acquired from Lehman Brothers’ European operation last September.
Nomura relaunched the former Lehman platform on 12 January and has rebranded it ModelEx. The ModelEx suite of tools includes direct market access (DMA), smart DMA, algorithms and dark pool services across Europe.
“We took the top tier of software vendors that delivered the previous Lehman Brothers electronic trading suite and are in the process of establishing these connections for our new Nomura offering,” Andrew Bowley, head of electronic trading product management, Nomura, told theTRADEnews.com. “We are now connected to eight software vendors and hope to add more in the near future.” Nomura declined to name the other software vendors.
As well as allowing TradingScreen’s buy-side clients to use ModelEx’s trading capabilities, the link will also grant them access to Nomura’s pre-trade analytics, which have been integrated into TradingScreen’s TradeSmart offering.
“The opportunity for TradingScreen to be so instrumental in the launch and global distribution of Nomura’s newest European electronic trading suite plays to our strength of providing cutting edge trading tools to the buy-side and our mission to simplify global markets,” commented Michael Chin, president of TradingScreen.
Bowley said that Nomura is in the process of updating the performance of ModelEx. “Since we launched the new offering under the Nomura brand, we have been continuously enhancing our electronic trading suite, including smart order routing performance, latency and algorithmic parameters,” he said.