The Investment Association (IA), the trade body representing UK investment managers, has published a Position Paper calling for the automation of IPOs and block trades, arguing that it is necessary to modernize the UK capital market and make it more efficient and competitive. The current manual process is inefficient, prone to errors, and lacks transparency. The paper suggests that new trading services vendors can provide the necessary technology to automate the process. The FIX protocol, a key component in this process, provides a standardized way for market participants to communicate and exchange information electronically. Collaboration between the buy-side and sell-side is essential for adopting these technological advancements. The IA believes that increased automation could facilitate capital raising and enhance the appeal of UK markets.
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