Book a demo

Trading Protocols

Cicada's innovative platform provides two trading protocols — a Central Limit Orderbook and a Request for Quote.

Both protocols are designed to create an even playing field, with complete anonymity and access to cross-border liquidity.


Execute the best positions with Live Prices



Answer RFQs directly by providing a quote

either in yield or price basis.

All-to-all greatly increases the number of execution counterparties without the need of an established trading relationship.
Anonymity improves execution by limiting information leakage to the market, Cicada allows anonymity from order placement, all the way to execution and settlement.
Both trading protocols, Central Limit Orderbook and Request for Quote, are accessible to all participants regardless of their geographic location, increasing liquidity and market depth.
Best solution for any participant

For Institutional Investors

Are you an institutional investor seeking a comprehensive and fair marketplace? Cicada is designed to revolutionize your trading experience.

Navigate an unfragmented market with ease and gain access to the full breadth of liquidity.

For Dealers

Enhance your product offerings, automate your processes, and expand your network of Counterparties with Cicada.

Our platform offers advanced connectivity and a white-label version tailored to your needs.

First-Class Features
Our Platform
Discover Cicada's intuitively designed platform. With distinct workspaces, you have all the tools to make informed decisions.
Individual Security Screen
Empower your trading experience with a user-friendly interface and essential tools.
Curve Scanner
Quickly assess the market and execute trades in a compact workspace.
RFQ Manager
Efficiently manage and respond to RFQs.
RFQ Scanner
Display all necessary information in a compact pop-out extension of the RFQ Manager.
Streamline post-trade processes management in a centralized tool.
Settlement Instructions Management
Easily manage settlement instructions for efficient post-trade processes.
Cicada Vision

Cicada Vision and Cicada Data form an exceptional duo of tools that empower you to gain a profound understanding of the market.

With their combined capabilities, you'll unlock unparalleled insights and uncover hidden opportunities, propelling your understanding of market dynamics to new heights

Historic Prices
Gain valuable insights into the historical performance of any of our securities.
Curve Plotter
Effortlessly compare rates and analyze changes in the sovereign curve over time.
Spread Analysis
Easily compare yields and spread between two bonds over adjustable time ranges.
Relative Value Matrix
Quickly identify trading opportunities by comparing yield differentials.
Security & Compliance
Cicada's Alternative Trading System

Cicada Securities, LLC is a SEC-registered broker-dealer member of the FINRA and SIPC.

Our platform is a SEC-registered Alternative Trading System.

Transparent and straightforward pricing

Cicada ensures competitive, disclosed and fair pricing.

Getting Started
Getting started with Cicada is seamless

After completing the onboarding process, our team will guide you on leveraging the best out of Cicada. Plus, our platform is entirely web-based, meaning there's nothing to install.

Request a Demo
Ready to experience the power of Cicada firsthand?
Request a demo and let us show you how Cicada can revolutionize your trading operations.
Book a demo