Iress has partnered with InfinitX to allow clients to trade unlisted securities through Iress’s execution management system and Iress Order System (IOS+) platforms.
Through the partnership Iress will integrate with unlisted asset liquidity venue JP Jenkins, which was acquired by InfinitX in 2023. Those using Iress’s order management system will be able to connect directly with the venue and submit expressions of interest to buy or sell shares, the company said.
JP Jenkins facilitates trading in private companies’ shares on a matched bargain basis.
Speaking to BEST EXECUTION, Debby Kaye, head of UK trading at Iress, indicated that the firms expect to expand their partnership later down the line. “Now that the connection’s there, as [InfinitX] grows we will definitely keep the connection alive. There are absolutely plans to grow as and when the time, market and conditions are right.”
“Our ambition is to fit into the market ecosystem,” Andrew Foster, founder of InfinitX, told BEST EXECUTION, “to feed into other technologies where it makes sense for our customers.” He agreed that the partnership has space to grow, considering Iress’s range of further services including portfolio management.
“We’re completely client driven and take or lead from what our customers are asking for and what they need to make it easier and bring more transparency and liquidity to our market.”
In a press release, Foster said: “We have been working hard with both the broker community and other capital market infrastructure providers to ensure we can fully automate our trading processes. Working with Iress has accelerated our plans, thanks to its market reach and expertise in the space.”
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