SimCorp, a provider of investment management solutions, has announced a partnership with FlexTrade Systems, a major player in high-performance multi-asset trade execution management systems (EMS). The collaboration aims to extend SimCorp's Order Management System (OMS) capabilities by integrating FlexTrade's cross-asset EMS functionality from its FlexTRADER EMS platform.
FlexTrade Unites with SimCorp
This collaboration caters to the increasing need for smooth integration and efficient workflows between OMS and EMS solutions, enhancing trading activities and fulfilling best execution requirements. As a component of the partnership, FlexTrade will become a member of SimCorp's Open Platform program, which aims to provide clients with seamless access to innovative fintech solutions throughout the investment value chain.
A key aspect of the agreement involves enhancing connectivity between FlexTrade's multi-asset FlexTRADER EMS and SimCorp's Order Manager OMS. This integration will provide numerous efficiencies, such as a smoother onboarding process and reduced time to market for joint clients deploying FlexTRADER EMS with SimCorp Dimension.
"Accessing liquidity is key for traders, not least in the recent volatile markets. By expanding our native interoperability with EMS providers to include FlexTrade, we formalize a long-running collaboration to provide a tested and maintained integration," Zoe Sheehan, the Vice President of Investments at SimCorp, said.
She added that this partnership offers SimCorp clients another great tool to complement their platform and emphasizes the openness and strength of the SimCorp ecosystem.
Clients of SimCorp and FlexTrade will enjoy harmonized future development plans and the opportunity to seek new functionalities from FlexTrade's industry specialists. This collaboration ensures a cohesive and agile user experience for OMS and EMS solutions while trading across a range of asset classes, such as equities, FX, options, fixed-income, and futures.
Andy Mahoney, the Managing Director of EMEA at FlexTrade Systems, expressed excitement about strengthening their relationship with SimCorp and joining the Open Platform initiative.
"We are excited to collaborate to deliver a seamless, cross-asset technology interaction between EMS and OMS solutions, which will help our mutual clients optimize their trading activities," Mahoney added.
According to SimpCorp, the company serves 40% of the world's top 100 financial firms through its platform and ecosystem, from 25 offices worldwide and a workforce of more than 2,200 employees.
Anders Kirkeby, the Head of Open Innovation at SimCorp, remarked that by incorporating SimCorp's portfolio and order management solutions with a select group of top-tier trade execution management systems, clients benefit from sturdy and expandable order execution and automation features. This integration allows traders to achieve excellent execution, even on the most demanding trading days.
Rajiv Shah Joins FlexTrade
A week ago, FlexTrade Systems announced the appointment of Rajiv Shah as the Head of Sales at the EMEA for the company's flagship sell-side OEMS, FlexOMS. The position has been specifically designed to incorporate Shah into the organization. Shah will contribute to the company's business strategy and expansion efforts as the official statement outlined.
"We are already seeing great growth and interest and are investing heavily in this market," said the Principal and Associate Founder of FlexTrade, Rajiv Kedia.
Rajiv Shah joins FlexTrade's London office as Head of Sales for Sell-Side Solutions in EMEA. The move is designed to drive growth and expand the market adoption of FlexTrade's Sell-Side trading solution, FlexOMS.
— FlexTrade Systems (@FlexTrade) March 20, 2023
Full story - https://t.co/ib2THpBCZj pic.twitter.com/iUlI9pAUYa
"A key component of executing our growth strategy for the solution and business in EMEA is ensuring we have the best people in place. With his long-proven track record, there is no one better than Rajiv Shah to help us move forward," Kedia added.
Additionally, the company announced a few months ago a partnership with APG Asset Management, a Netherlands-based company that has more than EUR 586 billion in assets under management. APG has chosen FlexTRADER EMS to enhance its multi-asset execution management capabilities. The asset management company utilises FlexTRADER EMS to develop sophisticated, customizable workflows and equip trading teams in the Netherlands, Hong Kong, and the US with a uniform set of data, tools, and interfaces to boost trading effectiveness.
New Developments in the OMS World
Recently, Finance Magnates has reported several times on new collaborations and updates in the OMS industry. Two weeks ago, CQG, a trading, market data, and technical analysis resource supplier, revealed a strategic collaboration with Broadridge Financial Solutions, a publicly-traded US fintech firm. The two companies merged their OMS and EMS offerings.
Before that, kACE, a product brand for solutions provided by Fenics Software Limited, announced the start of its newest OMS for the foreign exchange (FX) options market, dubbed kACE OMS.
In the meantime, a private trading operator owned by TP ICAP, Liquidnet, has announced its cooperation with BondAuction to provide access to BondAuction's offering from their OMS.
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