February 3, 2014

Squawker Looks to Cross in U.S.

By Peter Chapman

Squawker Trading is considering hopping across the pond and tapping into the U.S. broker market.

The firm offers technology targeting the sellside block trading business in an anonymous fashion. While most trading is done on order books, about 10 to 15 percent of orders are traded over the phone or on Bloomberg chat, according to Squawker's research. It is the latter slice of the market the company is targeting.

The vendor completed a pan-European rollout in October and is now used by more than 70 brokers in Europe to negotiate trades.

Nothing is imminent, but Chris Gregory, Squawker's chief executive, told Traders that the firm is exploring all of its options in the U.S.

"From feedback we've received from the sellside community, we do believe there is a real opportunity for Squawker," Gregory said.

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