The new data hub will allow clients to receive their own bespoke systematic internaliser price feeds through a single connection and unified application programming interface.
It also provides clients with their own configurable best bid and offer feed for a holistic view of an instrument’s liquidity across venues.
Part of EU legislation, MiFID II regulates firms that provide any services to clients linked to financial instruments and venues where these instruments are traded. The directive is due to take effect 3 January.
Christiaan Scholtes, head of Europe, the Middle East and Africa markets at Virtu Financial, said: “Integrating Virtu’s disclosed liquidity streams into the Vela systematic internaliser data hub delivers a seamless and cost-effective connectivity solution for clients to access Virtu’s competitive and transparent liquidity across equity and exchange-traded fund securities in a MiFID II compliant environment.”
“We look forward to a growing partnership with Vela as the market continues to embrace MiFID II’s transparent systematic internaliser regime.”
Ollie Cadman, head of business operations for Europe, the Middle East and Africa at Vela, added: “We are pleased to have added Virtu’s equity and exchange-traded fund data feeds to our systematic internaliser data hub, as well as a new feed within our switched multimegabit data service direct feed handling product.”