Vela hails Virtu move
January 2, 2018

Vela, a market access technology provider, reports the addition of Virtu Financial, a global electronic market-making firm, to the growing list of electronic liquidity providers delivering market data through its new Systematic Internaliser (SI) Data Hub, part of its MiFID II (markets in financial instruments directive II) solution suite.

Based upon Vela's core feed handler technology, the SI Data Hub provides a low latency, high performance normalized market data solution. The functionality aggregates SI data and allows clients to receive their own bespoke SI price feeds through a single connection and unified API (application programming interface). The SI Data Hub also provides clients with their own configurable Best Bid and Offer feed for a holistic view of an instrument's liquidity across venues. Vela delivers a similar solution for exchanges and multilateral trading facilities (MTFs) with the European Best Bid and Offer (EBBO) feed.

Ollie Cadman, Head of Business Operations EMEA, at Vela, commented: "Our agile feed handler integration process means that as more firms register as SIs, we can work with them to become a member of our SI Data Hub and ensure our mutual clients are receiving the data."

"Integrating Virtu's disclosed liquidity streams into the Vela SI Data Hub delivers a seamless and cost-effective connectivity solution for clients to access Virtu's competitive and transparent liquidity across Equity and ETF securities in a MiFID II compliant environment," said Christiaan Scholtes, Head of EMEA Markets at Virtu Financial.

Vela says it is currently integrating data from a number of firms that have already registered as SIs and some that expect to register shortly after the regulations become effective tomorrow (January 3 2018).





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Vela, a market access technology provider, reports the addition of Virtu Financial, a global electronic market-making firm, to the growing list of electronic liquidity providers delivering market data through its new Systematic Internaliser (SI) Data Hub, part of its MiFID II (markets in financial instruments directive II) solution suite.

Based upon Vela's core feed handler technology, the SI Data Hub provides a low latency, high performance normalized market data solution. The functionality aggregates SI data and allows clients to receive their own bespoke SI price feeds through a single connection and unified API (application programming interface). The SI Data Hub also provides clients with their own configurable Best Bid and Offer feed for a holistic view of an instrument's liquidity across venues. Vela delivers a similar solution for exchanges and multilateral trading facilities (MTFs) with the European Best Bid and Offer (EBBO) feed.

Ollie Cadman, Head of Business Operations EMEA, at Vela, commented: "Our agile feed handler integration process means that as more firms register as SIs, we can work with them to become a member of our SI Data Hub and ensure our mutual clients are receiving the data."

"Integrating Virtu's disclosed liquidity streams into the Vela SI Data Hub delivers a seamless and cost-effective connectivity solution for clients to access Virtu's competitive and transparent liquidity across Equity and ETF securities in a MiFID II compliant environment," said Christiaan Scholtes, Head of EMEA Markets at Virtu Financial.

Vela says it is currently integrating data from a number of firms that have already registered as SIs and some that expect to register shortly after the regulations become effective tomorrow (January 3 2018).



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