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Reaktor Launches FIX Engine for Integration with Alternative Trading Venues

BATS Europe awards FIX Engine’s first certification

Finnish software company Reaktor announces that FIX Engine, the firm’s new FIX protocol implementation, was awarded certification by BATS Europe, the second-largest multilateral trading facility (MTF) in Europe.

Reaktor’s FIX Engine provides banks and broker-dealers fast and cost-effective integration with BATS Europe, as well as primary exchanges, other MTFs and dark pools. The integration provides access the BATS Europe integrated book (for displayed orders and non-displayed large in scale orders), separate dark book and pan-European smart order routing (SOR) service. BATS Europe is the only MTF that provides participants with SOR technology to access multiple lit and dark market centres.

“Our market share is growing quickly with particular strength in the Nordic markets and we are pleased to partner with firms such as Reaktor to make the BATS Europe platforms and smart order routing technology more accessible to Nordic market participants,” said Paul O’Donnell, chief operating officer at BATS Europe. ”We look forward to helping them reduce the complexity and costs of navigating the pan-European equities market with our best-in-class trading platforms and smart order routing technology.”

”Integration with alternative trading venues has until now been costly and complicated. FIX Engine solves these problems, allowing integration with trading venues like BATS Europe in a few weeks,” says Vesa Lauronen, the managing director of Reaktor. “We developed FIX Engine in cooperation with BATS Europe, because BATS uses the most advanced technology in the industry. BATS Europe's Smart Order Routing (SOR) service routes orders to pan-European market centers, searching for liquidity at the best price and as fast as possible.”

The landscape of European equity markets has transformed from a regionally concentrated marketplace to a highly fragmented one over the past three years. Trading has quickly moved to alternative trading venues, such as MTFs, which offer their members aggressive pricing and better execution. More than a quarter of daily trading volume of OMX Helsinki and OMX Stockholm is now executed at alternative trading facilities.

More information:

Reaktor
Vesa Lauronen, Managing Director
puh. +358 45 670 9700

Bats Europe
Media/Analysts: Randy Williams +1.212.378.8522
To trade in the US: Joe Bracco +1.212.378.8527
To trade in Europe: Alex Dalley +44.207.012.8920