Christopher Gregory, co-founder and CEO, Squawker
"Squawker's collaboration with SIX Financial Information is crucial to the venue's success."
London - Squawker, the negotiation venue for sell-side block trading, and SIX Financial Information have signed a new partnership.
According to the agreement, SIX Financial Information will supply
Squawker with real-time, European market data via its product
Market Data Feed (MDF) allowing Squawker participants to execute
European block trades at consolidated mid-price and consolidated
VWAP. The announcement, which comes shortly after news of
Squawker's addition to the BT Radianz Cloud, underlines the new
venue's commitment to building solid relationships with financial
From the venue's go-live, scheduled for March 2013, Squawker will use SIX Financial Information's European data to populate its entire suite of instrument masters. Real-time data will enable Squawker to calculate consolidated mid-price and end-of-day consolidated VWAP prices. It will drive fat-finger checks and deliver data relating to exchange open/closing changes, as well as trading halts and resumptions information.
Christopher Gregory, co-founder and CEO, Squawker, comments: "Squawker's collaboration with SIX Financial Information is crucial to the venue's success. Using SIX Financial Information's data via the Squawker platform, Squawker's sell-side trading participants of mid-price interest will always execute at the consolidated mid-price of Europe's national exchanges and major MTFs. Similarly, VWAP-interested participants will be able to agree a block trade at any point throughout the day that is guaranteed to execute at the day's consolidated VWAP price."
Martin Cole, Managing Director, SIX Financial Information UK Ltd, comments: "Squawker has the potential to redefine the way the market trades block sizes. No longer will firms need to slice up their large trade sizes and drip them slowly into the market over a period of time, risking impact cost or the unwanted attention from detrimental algorithmic flow. SIX Financial Information's high quality and comprehensive coverage coupled with its real-time data availability delivers upon Squawker's sell-side trading community data reliability requirements."
MDF is a high performance, real-time global market data service delivering consolidated market information from exchanges, multilateral trading facilities (MTFs) and institutional contributors. MDF is particularly well suited for feeding applications which demand mid to high range data throughput.