Execution and order management systems specialist FlexTrade has announced a new partnership with financial markets operating systems vendor, OpenFin.
The partnership will aim to provide application interoperability and improves workflow management for buy-side traders that are using FlexTrade products, such as its FlexTRADER and FlexNOW, execution management systems.
Users will be able to integrate third-party vendor applications already deployed on the OpenFin operating system into their workflows, cutting down on the time and cost involved in technology updates usually required independent desktop applications.
OpenFin’s technology also enables FlexTrade’s products to roll out new desktop applications to its clients faster, using a common language that allows desktop applications to communicate with one another and share information, intent and context in a permissioned manner.
“Inefficient trader workflows hamper productivity and introduce an unnecessary level of operational risk,” said Adam Toms, chief executive of OpenFin Europe. “FlexTrade is pioneering change on the buy-side trader’s desktop and we are delighted to partner with them on this journey to build the next generation of financial desktops.
“Jointly, we empower traders to interact with the market in the way they prefer, with unprecedented levels of functionality and performance, accessing applications they need quickly, easily and securely, and without additional deployment costs.”
After launching its universal standards initiative, the Financial Desktop Connectivity and Collaboration Consortium (FDC3), just over one year ago, the first major version of the standards was released in late March by the FinTech Open Source Foundation (FINOS).