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TradingScreen partners with IlliquidX for High-Yield Debt Trading

Posted: 17th July 2012 09:51

TradingScreen Inc. (TradingScreen), the leading independent provider of liquidity, trading and investment technology via SaaS, today announced that it has signed a partnership agreement with IlliquidX, an innovative independent financial services boutique specialized in providing prices and liquidity for illiquid fixed income securities in various markets. Under the terms of the deal, IlliquidX, using TradingScreen technology, will give buy-side clients access to more than 5,500 distressed securities.
 
The deal provides buy-side clients easy and fast access to distressed assets at a time when overall liquidity has shrunk as a result of the reduction in market-making activity and the overall credit-rating level of the market has downgraded, increasing the size of the illiquid segment.
 
“IlliquidX was founded to create a platform for buyers and sellers of illiquid/stressed/distressed assets to be connected seamlessly and to provide liquidity and transparency to a non-transparent market in a regulated environment,” said Celestino Amore, founding and managing partner of IlliquidX. “The partnership between IlliquidX and TradingScreen will give us access to technology that will allow us to implement our vision in the most efficient and direct way, while aggregating IlliquidX existing venues of electronic activity onto one platform.There is a growing interest first in distressed assets and second in electronic trading, among both institutional and alternative investors. Seamless integration with the TradeSmart EMS interface, and real-time analytics, deliver the securities investors want, in the way they want  to see them.”
 
The partnership adds to TradingScreen’s extensive destinations network, which includes more than 900 venues across the globe. Connecting with IlliquidX will give TradingScreen clients an entrance into the illiquid asset space, strengthening TradingScreen leadership in multi-asset class trading and improving distribution of illiquid securities.
 
“TradingScreen welcomes IlliquidX as a liquidity provider on the system for high yield and distressed bonds,”said Jean-Philippe Malé, Global Head of OTC Products at TradingScreen. “Connecting buyers and sellers is critical for the operation of an efficient global market. The partnership between IlliquidX and TradingScreen not only benefits the clients of both firms, but also the broader market, as we help find real, fair price levels at which these assets will trade.”
                                                                                                                           
Learn more about TradingScreen’s fixed income functionality and the IlliquidX offering on TradeSmart or register for a demo.