Vela has launched a Systematic Internaliser Data Hub, a solution compliant with the second Markets in Financial Instruments Directive (MiFID II).
The new data hub will provide clients with access to multiple systematic internaliser liquidity price feeds through a single application programming interface.
According to Vela, the new hub will help to address concerns around MiFID II, which takes effect on 3 January.
The Systematic Internaliser Data Hub also provides clients with a single, consolidated best-bid offer view of multiple liquidity sources, to support price discovery and aid best execution.
It will also be available as a software-only solution to run in-house for new deployments, or as an addition to existing solutions.
The Systematic Internaliser Data Hub can be used alongside Vela’s systematic internaliser execution platform, which provides clients with a single, low latency order routing platform, to multiple systematic internalisers.
Hazem Dawani, chief product officer at Vela, said: “The launch of Vela’s Systematic Internaliser Data Hub provides our clients with a dedicated normalised feed that is fully hosted and managed. As new systematic internaliser venues are launched over the coming weeks and months, our clients can quickly and easily access these additional pools of potential liquidity.”
Alongside the release of the data hub, Vela has also revealed a new Sun Trading platform.
Ollie Cadman, head of business operations Europe, Middle East and Africa, at Vela, commented: “We are delighted to be working with Sun Trading to enable quick and cost-effective connectivity for their clients to comply with MiFID II.”
Cadman added: “The addition of Sun Trading to our new SI Data Hub demonstrates our continued commitment to provide our clients with the most comprehensive market coverage whilst ensuring we include the latest liquidity providers.”
