17 July 2017
Reporter: Drew Nicol

Elixium reveals Central Limit Order Book

All-to-all secured financing and collateral marketplace Elixium has unveiled its Central Limit Order Book (CLOB) for all counterparties.

The CLOB launched on 27 June with several counterparties trading June quarter-end liquidity in sterling general collateral repo close to the UK base rate.

This latest execution protocol bolsters existing auction functionality, increases transparency, and provides best price execution for clientele, according to Elixium.

In a statement on the launch, Elixium outlined its commitment to providing clients with liquidity, cost savings and new revenue opportunities.

The platform provider cited the deterioration of traditional liquidity sources, particularly over reporting periods, due to incoming regulation as the main driver for demand for its service.

Nick McCall, CEO of Elixium, commented: “The liquidity shown over the June quarter-end demonstrates the benefit of Elixium’s all-to-all model.”

“As access to liquidity remains challenging through traditional channels, Elixium offers an alternative model that allows participants to view and execute directly with each other in a regulated multilateral trading facility environment.”

“As our membership continues to grow, the liquidity and pricing benefits will become even more pronounced.”

Ayal Jedeikin, CEO of cloud-based HTML5 marketplace technology provider TradAir, on which Elixium is based, commented: “We are delighted to be supporting Elixium in liberating liquidity for its clients.”

“Our unique marketplace technology provides the performance, scalability and customised workflows required by such an innovative all-to-all marketplace.”

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