FlexTrade has confirmed plans to roll out an upgraded version of its multi-order management system (OMS) aggregation service.
The upgrade means the FlexTRADER execution management system (EMS) - which offers the multi-OMS functionality as a feature - will have more capability to aggregate orders from multiple OMSs.
It allows users to merge and net orders across multiple OMSs irrespective of the underlying version or implementation.
Oliver Boatfield, EMEA sales director at FlexTrade UK, explained as more asset managers have merged in recent years, there has been a surge of interest in the cross-OMS order aggregation tool as those firms bring together multiple OMS technologies.
FlexTrade added that this approach to merging and order routing ensures access to liquidity and fair execution allocation by factoring in broker restrictions per order and time of merging orders to an existing block.
“The cross-OMS functionality in FlexTRADER ensures asset managers have one consolidated view on orders, giving them more time to focus on trading,” he added.
FlexTrade said the upgrade is another ‘tick box’ for its platform, providing trader with one consistent approach to best execution regardless of order source.