Vela Expands Fixed Income With Fenics UST
Vela, a leading independent provider of data and execution technology for global multi-asset electronic trading, today announced the addition of Fenics US Treasuries (Fenics UST), owned and operated by BGC Financial, to its fully-hosted and managed Direct Market Access (DMA) Platform. With Fenics, Vela expands its Fixed Income offering providing global clients with access to cash and derivatives trading venues via a single platform.
Vela’s award-winning multi-asset DMA Platform is cross-connected to Fenics’ co-location facility in New Jersey, delivering a short path to the venue and ensuring superior transactional and communication performance. Leveraging Vela’s DMA Platform, low-touch trading desks at buy- and sell-side firms can benefit from Vela’s fully-normalized order entry, pre- and post-trade risk layers and market data for all the major listed derivatives venues, while trading cash and derivatives U.S. Treasury markets through a single API.
Ollie Cadman, Chief Product Officer at Vela, commented: “With the levels of automation in the Rates and Credit markets continuing to trend upwards, the addition of Fenics UST products to our DMA Platform provides our clients with ultra-low latency access to U.S. cash and derivatives treasuries data through a single API. Our high-performant execution platform can easily be integrated into any in-house or third-party EMS/OMS.” He added, “ Vela is excited to have added Fenics onto our platform as part of our goal to expand our Fixed Income coverage and functionality to help Rates trading desks with price discovery, order routing and workflow automation.”
Vela’s DMA Platform offers normalized order entry, pre-trade risk, drop copy, full risk management and normalized market data, supported by a strong clearing member ecosystem. This high-performant and scalable platform provides low latency and fully-normalized access to all the major listed derivatives venues for buy-side and sell-side firms. Vela offers the platform as a fully-hosted and managed solution (as-a-Service), leveraging its existing infrastructure network, exchange connectivity lines, and major points of presence across the globe.
Electronification of the municipal bond market also presents a large opportunity.
The success of Northbound trading showed electronic execution is way forward for the bond market.
Algorithms have become more prevalent in the spot FX market.
Increased electronification has created useable and accessible real-time and historic trade data.
Buy-side firms can discover liquidity more efficiently and execute on Turquoise.