TradingScreen and IlliquidX deal gives access to distressed securities
IlliquidX, the provider of price and other data on illiquid fixed income securities has signed a deal with TradingScreen, which should give more buy side technology users access to data on over 5,500 distressed securities.
The data covers distressed assets, a sector that has grown as overall liquidity has fallen and market making activity has fallen, the companies said.
Celestino Amore, founding and managing partner of IlliquidX, said: “The partnership between IlliquidX and TradingScreen will give us access to technology that will allow us to implement our vision in the most efficient and direct way, while aggregating IlliquidX existing venues of electronic activity onto one platform. There is a growing interest first in distressed assets and second in electronic trading, among both institutional and alternative investors. Seamless integration with the TradeSmart EMS interface, and real-time analytics, deliver the securities investors want, in the way they want to see them.”
From TradingScreen’s side, adding the ability to enter into the illiquid asset space will improve its position as a supplier of multi-asset trading, via its software as a service (Saas) model.