Aquis Technologies creates new connectivity hub
January 16, 2018
10 Users Already Agreed To Connect To Aquis Market Gateway
LONDON – 16 January 2018 – Aquis Technologies, the financial and regulatory technologies services arm of Aquis Exchange*, has launched Aquis Market Gateway (AMG), its new connectivity hub. AMG is designed to enable Systematic Internalisers (SIs) and Counterparties to connect bilaterally, via a normalised application programming interface (API). The relationship between SIs and their Counterparties, such as brokers and vendors, via the AMG is entirely and strictly bilateral and thus in line with the new MiFID II stipulations. Aquis Technologies has already agreements with 10 firms to use the AMG.
Aquis Technologies creates and licenses cost-effective, high volume, low latency trading platforms and realtime trade monitoring and surveillance technology for banks, brokers, investment firms and exchanges.
Under MiFID II, broker crossing networks have ceased to exist and new SIs are being created. There is growing demand amongst potential Counterparties to connect to these SIs.
Each SI has its own unique interface, so Counterparties wishing to connect with SIs would need to undertake specific bespoke infrastructure projects for each SI that they wish to connect to. The AMG simplifies this process by normalising access via the API. At no point is there a common matching hub within the AMG. It uses bespoke, low latency, high performance technology from Aquis. In addition, the API is very flexible, allowing Counterparties to continually adjust which stocks they want to interact with, even on an intraday basis.
Commenting on the AMG, Magnus Almqvist, Head of Technology Sales at Aquis, said: The AMG significantly broadens the potential Counterparty universe for SIs and helps lower the barrier to entry for Counterparties wanting to interact with SIs. Crucially, it does this in a bilateral way and thus complies fully with the requirements of MiFID II. We expect many more participants to join the AMG is the coming months.”
*About Aquis Exchange and Aquis Technologies
Aquis Exchange Limited is an exchange services group, which operates a pan-European cash equities trading exchange (Aquis Exchange) and develops and licenses exchange software to third parties (Aquis Technologies). Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority to operate a Multilateral Trading Facility. Aquis MTF operates a lit order book and does not allow aggressive non-client proprietary trading, thus market impact and signalling risks are lower on Aquis than other trading venues in Europe. According to independent studies, trades on Aquis are less likely to lead to price movement than on other lit markets. Aquis uses a subscription pricing model which works by charging users according to the message traffic they generate, rather than a percentage of the value of each stock that they trade.
Aquis Technologies is the software and technology division of Aquis Exchange Limited. It creates and licenses cost-effective matching engine and trading surveillance technology for banks, brokers, investment firms and exchanges.