Iress looks to enhance fixed income trading
Iress has partnered with Ediphy, a specialist in fixed income markets, providing its users with access to additional fixed income liquidity sources across the globe.
Ediphy offers fixed income execution and workflow automation, large-scale data management and analytics, automated execution in government, sovereign, supranational and agency bonds, credit bonds and cleared interest rate swaps.
Iress’ partnership with Ediphy offers a comprehensive fixed income solution to its global network. Trading customers on Iress’ software can now access a low-cost mechanism to trade fixed income and have the ability to source comprehensive liquidity from fixed income providers across the US, Europe and APAC regions.
Jason Hoang, Iress’ chief executive for global trading and market data, said the partnership was driven by the rising demand for fixed income instruments.
“We’re delighted to have this key partnership in place with Ediphy. Our customers are increasingly demanding the ability to trade fixed income instruments, with up to 20 per cent of their order flows being aligned to fixed income as an asset class.
“This partnership further extends our ability to provide access to additional fixed income liquidity sources globally, without the need to onboard individual venues and liquidity providers,” he described.
Ediphy chief executive Christopher Murphy was delighted to partner with Iress in bringing greater simplicity and automation to fixed income trading and supporting Iress’ community of investment management clients.
“Fast-changing market structures and increased investor demand for fixed income securities present growing challenges for investment managers. Ediphy combines cutting-edge technology with deep market experience to simplify and automate fixed income trading for investment managers,” he said.
Earlier this month, Iress announced it had sold its UK mortgages business to Bain Capital Tech Opportunities LP for a total cash consideration of £85 million ($167 million) before costs.
According to Marcus Price, Iress group CEO, the completed sale marked the fourth and largest divestment the firm had successfully accomplished under its transformation program.
The previous three sales included Iress’ managed funds administration business, its Pulse portfolio management software and, most notably, its platforms business which was successfully sold to Praemium in April 2024. These divestments are part of Iress’ strategy of simplifying its operations and divesting non-core businesses to retire debt.
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Jasmine Siljic
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