ESP Technologies, a trading and post-trade technology provider, has integrated its settlement aggregation service with INDATA, a buy-side software provider, via INDATA’s Precision Trading order management system (OMS).
The integration allows INDATA clients to benefit from settlement aggregation while still preserving all original broker execution, performance and commission details in the OMS for post-trade analysis and accounting purposes.
ESP says its settlement aggregation service enables buy-side firms to benefit from a significant reduction in the number of trade settlements and allocations when executing stock across multiple venues in an effort to achieve best execution. ESP services are currently available in 23 markets in the US, Europe, Asia, and Canada.
“We are pleased to offer our buy-side clients access to solutions, such as ESP’s, that reduce costs and make their trading and settlement processes more efficient,” said INDATA managing director David Csiki in a statement. “The integration we have completed with ESP allows our clients to obtain new efficiencies and cost-savings due to trade aggregation through their existing INDATA trading and execution infrastructures.”