Reuters has entered into an agreement with Iress Market Technology Limited to integrate their order routing networks to facilitate order flow from Reuters equity and equity derivatives customers to clients on the Iress Order System network in Australia and New Zealand.
The Reuters Order Routing network (ROR) offers Reuters clients a trading solution that quickly and seamlessly links Reuters’ growing global community of institutions, broker-dealers and execution venues via an open and neutral order routing hub.
The Iress Order System (IOS) network, meanwhile, is a domestic order routing network that connects to over 40 brokers in Australia and New Zealand, allowing direct access to the Australian Stock Exchange, Click, Sydney Futures Exchanges and New Zealand Stock Exchange.
By integrating the two order routing networks, all global Reuters ROR users will gain direct access to the Australia and New Zealand markets.
The ROR network is currently used by about 200 brokers and 500 buy-side institutions globally. This represents a significant additional pool of liquidity for IOS users.
The link between the Reuters Order Routing for Equities and IOS networks leverages the strength of both parties, combining the Reuters Global trading community with Iress’ strong local presence, commented Susanna Thornton, head of institutional equities at Reuters Asia. This, combined with the growing demand for Australian and New Zealand stocks from buy-side clients, and the reduced overall cost of implementing STP, makes the partnership a mutually very beneficial relationship.