– Network provides clients with the ability to route Direct Market Access (DMA) and Care Orders via global community of sell side brokers
– Expansion of Proquote's RSP gateway in Europe and North America
– Strengthens Proquote's position as a trading hub
London Stock Exchange Group today announces that their proprietary data and trading provider, Proquote, has launched a global order routing network for retail brokers. The new technology will allow them to route Care Orders and Direct Market Access (DMA) instructions through a community of sell side brokers.
Proquote customers will have the ability to submit orders via their existing electronic FIX interface. Additional functionality for manual dealers to access via a Proquote Trader Desktop will be launched in the coming months. The ability to access global securities through order routing follows the recent expansion of Proquote's Retail Service Provider (RSP) gateway enabling access to Request For Quote for European and North American cash equities.
David Tibbetts, Head of Proquote at London Stock Exchange, said: "This is a significant development for Proquote. Following the successful expansion of our RSP network into North America and Europe, the ability to offer Direct Market Access through our broker community gives our customers a truly global reach. We look forward to working with them to further enhance our data and trading offering."
Proquote offers a wide range of market data, trading and risk and compliance services. Through Proquote's Electronic Execution gateway, over 120 brokers can connect with more than 30 RSPs. Earlier this week Proquote celebrated its tenth anniversary as part of London Stock Exchange Group.