AFTAs 2015: Most Cutting-Edge IT Initiative—Electronifie
The alternative trading system (ATS) is also anonymous, all-to-all, and focused on blocks rather than odd lots.
Electronifie, this year’s victor, fits that description well: its focus is corporates electronification, a long-heralded but problematic niche, ripe for solutions that finally seemed to blossom in 2015. The alternative trading system (ATS) is also anonymous, all-to-all, and focused on blocks rather than odd lots.
Like past cutting-edge winners, the trading venue—led by US Securities and Exchange Commission (SEC), Goldman Sachs and Credit Suisse alum Amar Kuchinad—isn’t pursuing low-hanging fruit.
At Waters, we’ve heard the concern voiced by buy-side firms over and over that the problem with any new venue for corporates is information leakage. “How do I know my order is safe?” they ask, and that’s a fair question in a space where liquidity for large-size trades is thinner than elsewhere, and market routs can spring up seemingly overnight. At the same time, providers need to create a system that is smooth and accessible, not clunky.
What impressed the judges most about Electronifie’s entry was its direct answer to these questions: Javascript-based web technologies like Node and Meteor and delivery to desktops via secure HTML5-based container OpenFin; a proprietary “alerts” system that increases the match rate for orders above conventional dark pool logic; and a first-rate user interface that can be enhanced intra-day depending on clients’ needs, while always giving necessary transparency into activity on the platform.
The startup received further support in recent months when two top industry veterans—former SEC chairman Troy Parades and well-known entrepreneur Max Kahmi—joined as board members, highlighting its proud independence from the banks and other large backers. With 81 firms using Electronifie today, the ATS is set to lead a growing cadre of new electronic entrants and pricing providers in the corporates market, just as further interest-rate hikes could send it for a serious spin.
With around 81 firms using Electronifie today, the ATS is set to lead a growing cadre of new electronic entrants and pricing providers in the corporates market, just as further interest-rate hikes could send it for a serious spin.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Witad Awards 2024: EDM professional of the year—Neslihan Yegul, S&P Global Market Intelligence
Neslihan Yegul, vice president, head of EDM and thinkFolio at S&P Global Market Intelligence, wins EDM professional of the year in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Technology innovator of the year (end-user)—Laura Hamilton, Bank of America
Laura Hamilton, global head of corporate treasury, credit risk, climate risk, and financial forecasting technology at Bank of America, wins technology innovator of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Vendor professional of the year (data and operations)—Joanna Davies, OSTTRA
Joanna Davies, head of trade processing at OSTTRA, wins vendor professional of the year (data and operations) in the 2024 Women in Technology and Data Awards.
Sell-Side Technology Awards 2024: Best sell-side front-office platform—Bloomberg
Product: Bloomberg TOMS
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- Deutsche Börse democratizes data with Marketplace offering
- Sell-Side Technology Awards 2024: All the winners