Vela expands Systematic Internaliser Data Hub offering with Virtu Financial

Posted 02nd January 2018

Providing access to the growing pool of registered Systematic Internalisers  

London, New York, Chicago – 2 January 2018 – Vela, the premier market access technology provider, today announced the addition of Virtu Financial, one of the largest global electronic market making firms, to the growing list of electronic liquidity providers delivering market data through its new Systematic Internaliser (SI) Data Hub, part of its comprehensive MiFID II solution suite.

Based upon Vela’s core feed handler technology, the SI Data Hub provides a low latency, high performance normalised market data solution. The functionality aggregates SI data and allows clients to receive their own bespoke SI price feeds through a single connection and unified API. The SI Data Hub also provides clients with their own configurable Best Bid and Offer feed for a holistic view of an instrument’s liquidity across venues. Vela delivers a similar solution for exchanges and multilateral trading facilities (MTFs) with the European Best Bid and Offer (EBBO) feed.

Ollie Cadman, Head of Business Operations EMEA, at Vela, commented, “We are pleased to have added Virtu’s Equity and ETF data feeds to our SI Data Hub as well as a new feed within our SMDS direct feed handling product.”  Adding, “Our agile feed handler integration process means that as more firms register as SIs, we can work with them to become a member of our SI Data Hub and ensure our mutual clients are receiving the data.”

“Integrating Virtu’s disclosed liquidity streams into the Vela SI Data Hub delivers a seamless and cost-effective connectivity solution for clients to access Virtu’s competitive and transparent liquidity across Equity and ETF securities in a MiFID II compliant environment,” said Christiaan Scholtes, Head of EMEA Markets at Virtu Financial. “We look forward to a growing partnership with Vela as the market continues to embrace MiFID II’s transparent Systematic Internaliser regime.”

Vela is currently integrating data from a number of firms that have already registered as SIs and some that expect to register shortly after the regulations become effective in January 2018.  

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About Vela 

Vela is the premier market access technology provider, delivering low-latency access to over 200 venues, coupled with a unique set of trading tools, data, and analytics, flexibly delivered with exceptional global support. Vela acquired OptionsCity Software and Object Trading in 2017. Now as one organization, Vela provides a comprehensive, end-to-end solution for multi-asset electronic trading with global market coverage, enabling smarter access to global liquidity.

Vela has eight offices in the US, Europe, and Asia supporting traders, market makers, financial institutions and other market participants worldwide.

 

About Vela SI Data Hub

Vela’s SI Data Hub provides clients with access to multiple SI liquidity price feeds through a single normalised API, helping to address MiFID II concerns regarding best execution and liquidity fragmentation that will take effect on 3 January 2018. The Vela SI Data Hub supports the SI Consolidated Book providing clients with a single, consolidated Best Bid Offer (BBO) view of multiple liquidity sources to support price discovery and aid best execution.

The SI Data Hub is also available as a software-only solution to run in-house for new deployments or as an addition to existing solutions. The SI Data Hub offering is complemented by Vela’s SI Execution Platform which provides clients with a single, low latency order routing platform to multiple Systematic Internalisers.

Vela’s SI Data Hub is part of a wider range of SI and MiFID II solutions including Electronic Best Bid Offer (EBBO), support for Periodic Auction venues, enhanced Kill Switch functionality, and ongoing maintenance of exchange-driven changes.

For more details on Vela’s full suite of MiFID II support and functionality or on becoming a member of Vela’s SI Data Hub, please contact us at sales@velatradingtech.com.

 

About Virtu Financial

Virtu Financial are a leading financial firm that leverages cutting edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to our clients. As a market maker, Virtu provides deep liquidity that helps to create more efficient markets around the world. Our market structure expertise, broad diversification, and execution technology enables us to provide competitive bids and offers in over 19,000 securities, at over 235 venues, in 36 countries worldwide.

Virtu's corporate headquarters is located in New York with trade floors and development groups in North America, Europe and Asia. For more information about Virtu, please visit www.virtu.com or email us at info@virtu.com.

 

For media inquiries, please contact
Melanie Budden, The Realization Group for Vela
Email: melanie.budden@therealizationgroup.com
Tel: +44 7974 937970

Andrew Smith, Virtu
Email: asmith@virtu.com
Tel: +1 212-418-0195

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