Squawker Completes European Launch

Squawker provides a block-trading proposition based on negotiation, that eliminates the use of machine-to-machine execution through algorithms. Instead, using social networking principles, participants define the parameters of their desired counterparties and invite them to an anonymous chat to discuss trades, which includes FIX functionality for order execution and other processes.

Squawker began its phased launch in April. At the time, CEO Chris Gregory told Waters that the service will look to eventually expand beyond the traditional European financial center, and into both Asia and North America.

"We've been blown away by the uptake to Squawker over our launch period," says Gregory. "Today, more than 70 sell-side firms, across 13 European countries are signed on Squawker, ready to negotiate with each other. In addition, we are currently on-boarding another 30 firms, plus 20 more firms have committed to connect to Squawker through November and December. By year end, the Squawker community is set to reach the 100-mark."