OptimX Markets has moved to expand its ability to offer institutional clients bilateral liquidity with a new integration with State Street’s order and execution platform, Charles River.
As part of the integration, OptimX is now a certified sweep partner on Charles River’s investment management system (IMS) meaning Charles River institutional clients can now access OptimX liquidity via their desktops.
The move will allow OptimX to offer greater bilateral liquidity directly to the institutional buy-side directly via their systems, offering an alternative to going out into the lit markets.
Read more – Liquidity, it’s a two-way street
David Barnett, founder and CEO of OptimX Markets, said: “With a common client roster including some of the largest global asset managers, integrating with Charles River is an important step for OptimX in both providing greater productivity and streamlined workflows to the buy-side through our unique and diverse broker liquidity network.”
Liquidity providers on OptimX will also benefit from greater trading opportunities offered by money managers on Charles River’s network, OptimX confirmed.
“Seamless access to liquidity is top of mind for institutional clients,” said Greg Long, vice president of sell-side relationships at Charles River.
“Our integration with OptimX provides clients with a differentiated source of liquidity across trade size and complexity, improving productivity across their front-office.”
Bilateral liquidity has increasingly found itself as the poster child of industry discussion in recent months as many alternative providers and traditional banks look to access the buy-side directly via order and execution management systems.
OptimX Markets, in which Aquis acquired a minority stake last August, is a liquidity management service provider focused on optimising interactions between institutions and their broker counterparties.