The links will give broker-dealers and institutional investors access to overnight liquidity via 4,000 U.S. equities.
Broadridge Financial Solutions, a provider of systems and services for securities operations, reports that it has enhanced its NYFIX order-routing network and post-trade matching platform so that clients can “access overnight U.S. equity liquidity through a new integration with CAPIS, an institutional brokerage firm” that offers high-touch trading support, officials say.
In addition, Broadridge is offering NYFIX clients access to overnight liquidity pools via the Blue Ocean ATS [alternative trading system], a subsidiary of Blue Ocean Technologies LLC. This will facilitate trading for clients “operating across time zones and market cycles,” officials say.
The CAPIS and Blue Ocean links will help firms “respond more quickly to global events, manage risk more effectively, and act on opportunities beyond the traditional trading day,” officials say.
“With this new capability, NYFIX clients can execute trades overnight to support a range of strategies, including portfolio rebalancing, exposure adjustments, and event-driven trading. Access to Blue Ocean ATS enables clients to react to earnings releases, macroeconomic developments, and international market-moving news as it happens, without waiting for the opening bell,” officials add.
The strategic collaboration will give broker-dealers and institutional clients “access to extended-hours liquidity across more than 4,000 NMS securities,” according to the announcement.
“This partnership exemplifies Broadridge’s commitment to … enabling interoperability across the buy side, sell side, and both traditional and non-traditional liquidity pools, while enhancing workflow efficiency and creating a more seamless client experience,” says George Rosenberger, general manager of NYFIX, Broadridge Trading & Connectivity Solutions, in a prepared statement.
CAPIS is based in Dallas, Texas, and specializes in commission management solutions for asset managers and plan sponsors, officials say.
Blue Ocean ATS is based in West Palm Beach, Florida. Blue Ocean ATS and its trading system, Blue Ocean Alternative Trading System (BOATS), “currently trade US National Market System (NMS) stocks from 8:00 pm to 4:00 am ET from Sunday – Thursday,” officials say.
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