NEWS UPDATE
BUY-SIDE
Wave Labs onboards first long-only buy-side client
“ When a major buy-side client chose to use the EMS from us , a start-up , this is the confirmation that eLiSA is offering something unique . Something contemporary . Something new ,” Miles Kumaresan , chief executive of Wave Labs , told The TRADE .
Fixed income trading technology specialist , Wave Labs has onboarded Lombard Odier Group as its first buy-side client . The engagement contract was signed early this year , with the firm fully integrated and operational , The TRADE understands .
“ Having tools like e-LISA which is built by providers with direct practical experience of these challenges is rare and helps give us an edge in delivering outstanding trading outcomes for our clients ,” Stephen Grady , head of global markets , executive vice president , at Lombard Odier , told The TRADE .
The agreement follows an increase in interest from the buy-side in recent times , with Wave Labs having onboarded its first hedge fund client back in June 2023 .
TRADING VENUES
Aquis set to begin charging members for non-displayed data after 10 years of no fees
Notice distributed confirms members will have to pay for non-displayed market data feeds like non-members from June onwards .
Aquis Exchange is set to begin charging its trading members for non-displayed market data feeds for the first time since its inception almost 11 years ago .
According to a member notice distributed on Friday 1 March , members on both Aquis Exchange and Aquis Exchange Europe will have to pay the same monthly rate as non-members for non-displayed data effective 1 June 2024 . Non-display and terminal fees are now applicable to trading members , the notice confirmed . Members in the “ basic subscription tier ”, excluding AQSE broker membership , will be expected to pay £ 1,250 per month . All other members , excluding AQSE broker membership , will have to pay £ 2,500 per month .
Ongoing access to historical market data will be subject to a monthly fee of £ 500 , said Aquis , and members ’ terminal fees will be charged as the same rate as non-members .
Trading fees , subscriptions , and message tiers remain unchanged , The TRADE understands .
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