The multi-broker platform, called Venue Management System (VMS), offers traders centralized access to liquidity pools. Working with Firefly’s technology, the program aims to enable institutions to easily execute transactions across multiple venues, including algorithms, ATSs, third party brokers, ECNs and exchanges. It is hoped this will provide greater control over order flow and the ability to average price all executions.
Firefly’s VMS was developed so buy-side traders can direct their order flow to the liquidity venues that best suit their investors, said Muhammed Saeed, president of Firefly. Firefly gives traders the ability to provide clients with better service, streamlined executions and extremely competitive pricing while eliminating the hassle of multiple tickets.
