Squawker Adds Fidessa Support

The venue has also added program trading modules, which aim to increase straight-through processing through aligning with dark pool and algorithmic workflows, while retaining its human-to-human negotiation premise.

"On our side, we've enhanced Squawker's intelligent memory functionality so that Spotlight orders are remembered within Squawker to dovetail Squawker's workflow with that of Spotlight's," says Chris Gregory, co-founder and CEO at Squawker. "For example, a trader's ping order to a dark pool stipulates that if a match is found, it should execute automatically, or the order should be cancelled. Within Squawker, nothing automatically executes. So when Squawker receives a ping order, it remembers what you're interested in trading, goes on to look for the other side for you and then links Squawker's workflow to Spotlight's workflow to eliminate the risk of over-trading when executing a block on Squawker."

Other upgrades include the inclusion of dark alerts, a re-engineered workflow that allows for counter-offers and rejections in the same instance, and malleable fat-finger checks.