Aiming to quell the buy side’s concerns about lack of transparency and liquidity control, Fidelity Capital Markets has created a new execution venue focusing on block trades, called BLOX (Block Liquidity Opportunity Cross), an extension of the company’s alternative trading system, CrossStream. High fragmentation and low volumes in the equities markets have upped the stakes for buy-side traders who increasingly want to execute block trades to improve execution quality, says John Donahue, SVP, head of equity trading at Fidelity Capital Markets. Donahue says BLOX, which has already been tested by 10-15 Fidelity clients, meets the needs of traders who are searching for venues that are both safe and can offer unique liquidity. Many of Fidelity’s institutional clients have also been clamoring for better workflow for conditional interaction, he explains. Through Fidelity’s ATS, CrossStream, BLOX anonymously matches Fidelity clients’ orders again... Read full story on Wall Street & Technology


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