Fidessa teams up with Tower Research Capital to extend access to SI liquidity


Fidessa group plc (LON: FDSA) has just announced that it has added Tower Research Capital – TRSi (Tower) – to its Intelligent SI Liquidity Program. This latest partnership with Tower leverages Fidessa’s market access architecture and smart order routing capabilities, and further helps Fidessa customers meet the liquidity challenges they now face under MiFID II.

Using a diverse set of trading strategies across a broad range of asset classes, Tower provides liquidity on electronic markets around the world.

As the new SI players enter the market it’s important for brokers to have choice, but this choice needs to be managed within a framework that promotes best execution,” said James Blackburn, Global Head of Equities Product Marketing at Fidessa. “And, with our customers also seeking new ways to access block liquidity from LIS venues, we felt it was important to have one integrated approach across the entire liquidity spectrum. Fidessa is committed to providing a single point of entry to major sources of SI liquidity alongside existing dark and lit venues.

Tower’s SI (TRSi) price feed is integrated into Fidessa’s SOR and market access layer so that it can be consumed alongside traditional sources of liquidity. Fidessa’s advanced order handling capabilities, including its Spotlight and BlockShadow liquidity seeking services, enable users to intelligently manage all their order flow across lit venues, SI operators, and the new Large in Scale dark pools that have emerged in the wake of MiFID II.

Simon Dove, Head of Liquidity Management at Tower Research Capital Europe Limited, commented:

Tower is part of the elite new SIs that bring best of breed liquidity to markets in the post-MiFID II world. We are delighted that Fidessa has selected us to help bring greater choice to our sell-side partners in their search for specialist and market leading liquidity.

As a Registered Market Maker in 1500+ symbols across Europe, we have strived to not only deliver a best of breed SI platform and liquidity profile, but also to develop our Market Making strategies and risk appetite to embrace the exciting post-MiFID II world of periodic auctions and LIS venues. This complements our significant footprint across European equities, FX, Fixed Income, Commodities and Equity Derivatives.

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Fidessa teams up with Tower Research Capital to extend access to SI liquidity

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