Virtu Financial (Virtu), a leading provider in market making and execution services, and Propellant Digital (Propellant), a technology provider specialising in fixed-income data analytics, today announced that Schroders has completed the integration of Propellant's extensive fixed-income transparency data offering via Virtu’s global multi-asset class execution management system (EMS), Triton Valor.
Propellant's technology platform has been employed by many financial institutions, including global and regional banks, asset managers, quant hedge funds, trading venues, regulators, and other industry associations. By leveraging Propellant’s analytics, these institutions are able to extract value from growing volumes of European and US transparency data in today's increasingly electronified bond trading environment.
The full implementation of Propellant's analytics, within the Virtu Order Blotter, provides Schroders’s fixed-income trading teams with a comprehensive trade dataset. Schroders’s teams can now access pre-trade data such as real-time market activity, historical trade prices, and aggregated trade volumes. Furthermore, Schroders’s teams will benefit directly from enhanced market visibility enabled by the new EU and UK transparency regime coming into effect in 2025.
By utilising Virtu’s market structure expertise and execution technology, users can optimise trading strategies, drive workflow efficiency, and make more informed decisions without leaving the context of their fixed-income trading blotter.
Charlie Gibson, Head of Sales at Propellant Digital, stated: “The potential of the insights derived from MiFID data is significant and we are transforming these insights to help our clients improve their processes, enhance decision-making, and drive better execution. Our collaboration with industry leaders like Schroders and Virtu presents an exciting opportunity to further explore these possibilities. Together, we ensure clients remain at the forefront of change in the fixed-income market, leveraging greater transactional data availability and advanced analytics to deliver exceptional value and service to their clients.”
Melissa Ellis, EMEA Head of Workflow Technology at Virtu, noted: “Virtu excels in equipping clients with cutting-edge tools for seamless global execution across asset classes, including innovative solutions for desktop consolidation in fixed income markets. By streamlining workflows and centralising critical functionality, we help clients enhance efficiency and decision-making. We collaborate closely with clients and industry partners to deliver best-in-class technology for optimising performance and achieving superior outcomes.”
Gregg Dalley, Global Head of Multi Asset Trading at Schroders, commented: “We are excited to collaborate with Propellant and Virtu on this project and believe this will strengthen our Fixed Income trading capability. Our clients will benefit from our traders having access to state-of-the-art market data at their fingertips, centralised within the Virtu Triton EMS for maximum efficiency. Clicks-per-trade will be reduced and traders will more easily be able to assess the landscape of a given ISIN, shaping trading outcomes and PM interaction. The level of engagement from both Propellant Digital and Virtu has been excellent, and we look forward to evolving this even further. “