FlexTrade Introduces Enhanced Cross-OMS Aggregation for MiFID II

FlexTrade (@FlexTrade) has announced the rollout of  an enhanced version of its multi-OMS aggregation functionality, an in-built feature of the FlexTRADER EMS, which allows users to merge and net orders across multiple OMSs regardless of the underlying version or implementation.

“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,” said Oliver Boatfield, EMEA Sales Director at FlexTrade UK.

Along with the ability to dynamically merge orders within and across OMSs, FlexTRADER provides highly 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. This flexible approach to merging and order routing ensures optimal access to liquidity and fair execution allocation by factoring in broker restrictions per order and time of merging orders to an existing block.

With MiFID II legislation coming into effect in just under two months, ensuring “all sufficient steps” have been taken to achieve Best Execution is now top priority for all asset managers. This new version of multi-OMS aggregation is another tick box for FlexTrade’s comprehensive platform, which provides traders with one consistent approach to Best Execution, irrespective of order source.

Aggregation across multiple OMSs works in combination with FlexTrade’s MiFID II APA integration to ensure any trade reporting obligations are catered for in the FlexTRADER EMS in real-time.

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