Exclusive: FENICS Invitations closes

Dan Barnes
2633

Multiple market sources have confirmed that Fenics Invitations has closed.

The execution service, run by interdealer broker BGC Partners, was intended to provide an all-day trading protocol that combined the ‘call and response’ and anytime aspect of request for quote (RFQ) trading, with the mid-market pricing and pre-trade anonymity of a session-based auction.

It offered a way for the IDB’s sell-side clients to support the liquidity requirements of buy-side firms by using proprietary smart order routing technology, so the counterparties could be certain they were trading with a relevant, interested firms on the other side.

BGC’s press office did not respond to requests for comment, and no reason was given for the closure.

©Markets Media Europe 2023

TOP OF PAGE