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FlexTrade introduces enhanced cross-OMS aggregation for MIFID II

First Published 21st November 2017

Improves FlexTRADER EMS ability to aggregate orders across multiple OMSs

London - FlexTrade, a provider of multi-asset execution and order management systems, has announced 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.

FlexTRADER 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. This approach to merging and order routing enables 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 aims to provide traders with one consistent approach to Best Execution, irrespective of order source.