Elixium’s Central Limit Order Book goes live

17 July 2017

  • Counterparties benefit from execution at or near UK base rate over June quarter-end
  • Elixium offered average Bid/Offer spreads 3bps around mid vs reported 40-50 bp spreads in traditional markets for buy side counterparties
  • A number of counterparties trading regularly
  • Counterparty list continues to expand – liquidity building   

Elixium, the leading global all-to-all secured financing and collateral marketplace, announces that its Central Limit Order Book (CLOB) is live for all counterparties.

The CLOB went live on 27 June 2017 with a number of counterparties trading June quarter-end liquidity in sterling general collateral repo close to UK Base rate.

Liquidity provision from traditional sources, particularly over reporting periods, looks set to deteriorate as regulation is implemented. Elixium is providing its customers with liquidity, cost savings and new revenue opportunities.

This latest execution protocol augments existing auction functionality, increases transparency, and provides best price execution for Elixium’s clientele.

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

Elixium is based upon TradAir’s highly customisable, cloud-based HTML5 ‘Marketplace Technology’.

Ayal Jedeikin, TradAir’s CEO, added: “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.”