Operating system for enterprise productivity OpenFin has revealed that London Stock Exchange Group’s Turquoise Plato is connecting to OpenFin. The move is motivated by the industry’s need for workflow efficiencies, application interoperability, and a more unified desktop experience for the buy-side and member firm users.
Turquoise delivers innovation and liquidity opportunities to the market. In 2020, Turquoise Plato Block Discovery saw record levels of block trading activity on Turquoise and Turquoise Europe. This collaboration allows Turquoise to continue to deliver on its mission to identify efficient, collaborative operating models that reduce the implicit cost of trading, contribute to long-term investment returns and drive sustainable growth.
Dr Robert Barnes, Group Head of Securities Trading & CEO of Turquoise Global Holdings, LSEG, said:
As a market operator, Turquoise is well positioned to bring the industry together around a common ambition: to collaborate, innovate and to improve efficiencies on traders’ desktops. This will not only support best execution efforts but also improve performance for end investors as it helps us reduce the slippage cost at the point of execution. We are delighted Turquoise and Turquoise Europe™ are the first trading venues to connect to OpenFin and offer this new functionality to the buy-side.
Turquoise on OpenFin provides data feed directly into trader workflows to support liquidity discovery and decision-making processes usining OpenFin’s open architecture. The API passes FDC3 compliant Context objects, and utilises of OpenFin’s message bus to pass the data to OpenFin-enabled applications such as visualisation tools, in-house and 3rd party applications.
We are witnessing a continued shift towards more collaborative mindsets and platforms. With forward thinking firms such as Turquoise working with the industry to create solutions that make the financial desktop more intuitive, automated and powerful, firms can unlock the true potential of interoperability and contextual workflows on their financial desktop. Operational complexity and costs arising from bilateral integrations are fast becoming a thing of the past as users can now access the right tools and data sets, surfaced directly into their workflows, delivering powerful capabilities and tangible results.
OpenFin supplies a common web-based OS layer across the financial services industry for next-generation applications and desktop experiences. OpenFin technology is set up on 300,000 desktops across the industry, powering more than 3,500 applications in over 2,400 buy-side and sell-side firms in over 60 countries.
FlexTrade Systems will deliver the Turquoise data feed into their EMS through the OpenFin message bus. Traders can then act on that data, automate processes and benefit from emerging liquidity opportunities. Built-in visualisation capabilities ease the block trading activity from Turquoise Plato Order Books and allows them to interact with.
Andy Mahoney, managing director EMEA at FlexTrade Systems, added:
We are delighted to work with Turquoise and OpenFin to support liquidity discovery and execution opportunities, and bring tangible benefits to the buy-side trading desk. It helps our clients customise their execution workflows, perform optimally on every trade and achieve best execution without compromise.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.