European equity broker CA Cheuvreux is making its suite of algorithmic trading strategies available through InfoReach's execution management system. InfoReach's buy and sell-side customers can now access CA Cheuvreux's 13 strategies and execute on 20 markets across Europe via its sell-side network, according to the announcement. The markets include Austria, Belgium, Denmark, Finland, France Germany, Greece, Hungary, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, the United Kingdom, Virt-X and Chi-X.

"They had algorithmic suites in Europe. We integrated with them because we had clients demanding it and more clients trading internationally," says Allen Zaydlin, CEO of InfoReach referring to CA Cheuvreux, Credit Agricole's European equity broker which is a wholly owned subsidiary of Calyon, the Group's corporate and investment bank.

In a statement, Jerry Lees, head of Alternative Execution Services at CA Cheuvreux commented, "The further enhancement of our algorithmic trading offering underlines our commitment to continue to invest in and deliver the best suite of algorithmic strategies to our customers. We are very pleased to partner with InfoReach, whose diversified customer base supports our objective of reaching the largest community of buy-side and sell-side clients."

Prior to the partnership, InfoReach FIX Network was already connected to Cheuvreux's infrastructure for direct market access (DMA) trading into European markets. "Our network reaches 80 brokers and Cheuvreux is one of the brokers," says Zaydlin. Now the order flow goes through CA Cheuvreux's infrastructure for direct market access and electronic execution into algorithms as well as their portfolio trading desk and cash desk in Europe, he says.

InfoReach is seeing demand for algo trading in Europe from buy-side clients using TMS. Seventy percent of its clients are hedge funds. Because traders use the DMA infrastructure to reach the markets directly through the Cheuvreux brokers, they want to use the tool to go to their algorithms, he says. "Increasingly the EMSs are being used to get better execution results, so a lot of he activity for the brokers has shifted to the EMS," says Zaydlin. Most of the order flow is coming from global buy-side clients that are U.S. based companies with offices in many countries, he says.

"From the U.S. perspective it is part of the push toward having the same functionality or tools available to trade in any market that they access," says InfoReach's CEO. In other words, "if you are touring around the U.S and Europe, you can expect to find a car you can rent and a road you can drive on, " says Zaydlin.