Linedata Services has formed a marketing alliance with technology provider Norbury Financial Systems, offering users of its LongView Trading Order Management System (OMS) access to Norbury Links, the research management platform.

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ESP Technologies, a provider of a broker neutral global order routing network, post-trade management technology and centralised aggregated settlement services, has integrated its Clearvoyance post-trade pre-clearing aggregation technology with Linedata via the firm’s order management system, LongView Trading.

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Bids Trading, an alternative trading system (ATS), and BNY ConvergEx Group, a provider of global agency brokerage and investment technology solutions, have established connectivity between their two trading platforms.

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Fidessa LatentZero, provider of front office software to the buy side, is now offering access to State Street’s FX Connect trading platform from its order and execution management system, Minerva (Electronic Trading, March 2007). FX Connect provides real-time, interactive foreign exchange trade execution with multiple counterparties. It delivers real-time information, and links pre-trade research and strategy information, electronic trading and post-trade clearance, settlement and reporting. Users of Fidessa LatentZero’s trading network, LTN, will now have an improved ability to integrate foreign exchange trading into their portfolio execution process, the vendor claims.

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FXall, the foreign exchange platform, has signed a distribution agreement with Investment Technology Group (ITG) which will enable ITG clients to trade foreign exchange through FXall’s FX trading solution. Initially, ITG will connect FXall’s relationship-trading platform into its order management system, Macgregor XIP, and execution management system, Triton.

Bob Gasser, chief executive officer of ITG, says: “Multi-asset class trading is becoming increasingly important to our clients and this agreement with FXall allows us to provide them with access to the growing foreign exchange market.”

BIDS Trading and Fidessa LatentZero are developing connectivity between their systems, enabling users of the Minerva OEMS, Fidessa LatentZero’s order and execution management system, to anonymously trade large blocks of US equities on the BIDS Trading platform. Chris Gregory, head of connectivity services at Fidessa LatentZero, says: “Access to the BIDS Trading platform enables Minerva clients to trade large blocks of US equities without showing their hand.”

Fidessa LatentZero has partnered with Pipeline Trading Systems to enable clients of its order and execution management system Minerva to realise institutional trading efficiencies, without risking blotter information leakage. The new partnership enables traders to send orders to Pipeline directly from the Minerva OEMS blotter with a single click. The buy side maintains control over its order submissions, while retaining the ability to join large block trading opportunities matching stocks in its blotter. This increases workflow efficiency, safeguards against trading errors and provides traders with multiple sources of liquidity, enabling them to optimise execution performance.

Clients of Linedata Services’s LongView trade order management system (OMS) can now synchronize orders between LongView and NYFIX’s transaction services quickly and efficiently following the ‘no-touch’ integration to NYFIX Millennium and NEXAS, NYFIX’s suite of execution algorithms. Many LongView Trading System clients already benefit from the connectivity they receive from the NYFIX marketplace, the vendor says.

BNY ConvergEx is to provide users of its Eze order management system with direct access to options algorithms developed by Credit Suisse’s Advanced Execution Services (AES) unit. Credit Suisse says mutual clients can now access its full suite of automated, algorithmic trading strategies - including Pathfinder, Sniper and Delta Adjusted - via the Eze OMS.

Boston Financial Management, with $1 billion in equity and fixed income assets under management, is live with INDATA IMS for its front to back office needs. “Not only did the INDATA system have the functionality we were looking for in different areas, they were also more cost effective and timely when it came to the actual implementation of the system,” says Jack Abbott, president & CEO, Boston Financial Management, Inc. “This, combined with the fact that INDATA’s technology offering was firmly established and was being utilised by other sizeable investment management organisations in the Boston area, led us to our decision.”

Linedata Services’ announcement that its LongView trade order management system (OMS) could handle twice the average trading volume of the Nasdaq exchange while supporting the portfolio management, trading and post-trade environment of the largest asset managers, was hailed also as a “major breakthrough” for OMS-EMS integration.Following testing of the latest version of the firm’s OMS, results indicated that LongView Trading could exceed the capabilities of execution management applications passing data back to the OMS.

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thinkorswim, the online brokerage firm division of Investools, has implemented a new upgrade utilising Microsoft.net for its thinklink OMS. Additionally, thinkorswim recently added TouchPoint Securities, an agency only broker/dealer, as a client utilising the thinklink OMS platform. thinkorswim’s thinklink product, which services sell side desks, will enable TouchPoint Securities to receive electronic order flow from buy side customers and route the orders to various liquidity points. Since the third quarter of 2007, thinkorswim has also formed joint relationships with Credit Suisse (AES) (Electronic Trading, August 2007) and NorthPoint Trading Partners, as well as ongoing relationships with major clearing firms.

BNY ConvergEx Group company Eze Castle Software’s order management system (OMS) has completed systems integration with Aqua, the alternative trading venue for block liquidity created by eSpeed. Says Tom Gavin, CEO of Eze Castle and director of BNY ConvergEx Group: “Our clients rely on the Eze OMS to simplify and manage their daily investment and trading processes, including integrated access to key liquidity providers in the marketplace.”

FlexTrade Systems’ FlexTRADER EMS will be the first algorithmic trading platform to provide direct access to NYSE MatchPoint, the new, portfolio-based, point in time electronic trading facility of the New York Stock Exchange.

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Portware, independent provider of global, broker-neutral, multi-asset trading systems, has launched its real-time failover system. Portware High Availability (HA) provides business continuity in the event of any trading system failure and is available to buy and sell side firms using Portware’s Enterprise solution, the vendor says.

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McComsey Asset Management, a growth-focused large-cap money management firm, has adopted Linedata Services’ LongView Trading order management system on an application service provider model. With ASP deployment, Linedata manages and hosts LongView Trading at secure, specialised data centres.

Investment Technology Group’s (ITG’s) addition of pan-Atlantic electronic trading capabilities to its Triton execution management system (EMS) will enable clients in Europe and North America to trade US, Canadian and European stocks from one platform. It also takes ITG a step closer to making Triton a global product, encompassing Asia-Pacific.

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Townsend Analytics, provider of the RealTick EMS (execution management system), has been selected as a preferred distribution partner by BNY ConvergEx Group. Under the terms of the deal, the firms have agreed to supply clients with direct access to ConvergEx’s suite of liquidity management technologies via the RealTick EMS.

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With Fidessa having completed its acquisition of LatentZero earlier this year (Transaction Networks & Technologies, May 2007), the company announced late this July a 43 per cent jump in operating profit for the half year of 2007, on a “significant” increase in usage across a range of Fidessa services and the first signs of the integration bearing fruit.

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Linedata Services has undertaken to implement technology designed to keep OMS and EMS blotters in what it claims will be “perfect synch”. Linedata has kicked off this strategy with the integration of REDIPlus, Goldman Sachs’ execution management system (EMS), as well as drag-and-drop access to all of Goldman Sachs’ algorithms, including global futures strategies.

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