FlexTrade readies for MiFID II by enhancing cross-OMS aggregation

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

FlexTrade Systems, a provider of broker-neutral algorithmic trading platforms, has enhanced its multi-OMS aggregation functionality in preparation for MiFID II.

The new version improves the ability of FlexTRADER EMS, which allows users to merge and net orders across multiple OMSs regardless of the underlying version or implementation, according to the company.

It also provides configurable allocation logic with several out-of-the-box rules, including LIFO, FIFO, pro-rata and optimal average pricing. It can also be configured per-market and per asset class, based on any order attribute in the system.

Regulation such as the Dodd-Frank Act, MiFID, and stricter compliance requirements, have pushed buy-side firms towards more sophisticated trading technology, including OMSs and EMSs.

Oliver Boatfield, EMEA sales director at FlexTrade UK, said: “With a number of major asset manager mergers over the past few years bringing together a variety of OMS technologies, we have seen a surge of interest in FlexTRADER’s unique abilities in cross-OMS order aggregation.”

With the deadline for MiFID II just under two months away, the company said the new version of multi-OMS aggregation is ‘another tick box’ for its comprehensive platform. The aggregation across multiple OMSs will work in combination with FlexTrade’s MiFID II APA integration to ensure any trade reporting obligations are catered for.

“The cross-OMS functionality in FlexTRADER ensures asset managers have one consolidated view on orders, giving them more time to focus on trading,” Boatfield added.

Founded in 1996, FlexTrade claims to be an industry pioneer in broker-neutral algorithmic trading platforms for equities, foreign exchange, options, futures and fixed income. With offices in North America, Europe and Asia, FlexTrade has a worldwide client base spanning 200 buy-side and sell-side firms, including hedge funds, asset managers, commodity trading advisors, investment banks and institutional brokers.

A number of companies have expanded their offerings with the deadline for MiFID II edging closer. Earlier this month, Dublin-based Corvil launched a new solution that establishes a system of traceability to Coordinated Universal Time (UTC).

To resolve the challenges that many firms face from the legislation, London-based OSMO Partners recently partnered with Hedgd, while InfoReach, a provider of multi-asset electronic trading technology for capital markets, incorporated MiFID II support into its solutions.

Copyright © 2017 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.