QuantHouse, a provider of market and trading data through API-based technologies, is now offering its clients direct access to BGC’s electronic trading platform for US Treasuries, dubbed ‘Fenics USTreasuries.’
The company taps the FeedOS API and QuantLINK global network for creating the new link with the platform that aims to provide a unique trading mechanism to modernize the cash treasury space.
Adapting its interdealer expertise for a buy‑side market, BGC has created FENICS USTreasuries platform to give asset managers a more attractive venue for accessing liquidity in US treasuries. The vendor claims its platform is four times faster with professional trading firms than existing competitors’ terminals, such as NEX Group’s NXGN.L BrokerTec and Nasdaq Fixed Income, formerly known as eSpeed.
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BGC reenters the market to spur competition
Fenics UST’s model also gives buy-side order flow the widest exposure to marketplace pricing, without exposing dealers’ clients to greater risk.
QuantHouse is a provider of end-to-end systematic trading solutions, data services, algo trading platforms, and infrastructure solutions. The deployment of Fenics UST not only helps meet growing client demand but also spurs competition in a market dominated by BrokerTec, which has a market share of around 80 percent.
Commenting on the news, Salloum Abousaleh, QuantHouse’s Managing Director of Americas, said, “Much like other asset classes, the US cash treasuries market is moving towards more electronically traded products. Fenics UST provides a new source of rich data and an entry point into the world of USTs, opening up a previously inaccessible market to today’s buy-side participants who require greater transparency and robustness. These technology-savvy investors value data quality, streamlined integration and speed, which our two organizations strive to provide.”
Rich Winter, senior managing director at Fenics USTreasuries, added: “Fenics USTreasuries is pleased to be connected to QuantHouse’s market-leading offering. The global reach of QuantHouse’s platform and delivery of state-of-the-art data and API functionality enhances Fenics UST’s offering of fully electronic global access to the US cash treasuries market for all institutional traders. Our newly launched joint initiative will help to modernize the trading experience for all players in the cash UST marketplace.”