JonesTrading has moved its firm-wide middle office operations onto LiquidityBook’s LBX Post-Trade Hub, a suite of cloud-native solutions for sell-side middle office operations.
According to the firms, they have collaborated closely to go-live in three months’ time. The update retires a legacy solution that was used for nearly 20 years.
LBX Post-Trade Hub will operate as a single, standalone middle office allocation system, interfacing with a range of front office OMS platforms and clearing brokers.
The move builds on top of a longstanding relationship between JonesTrading and LiquidityBook, dating back to 2014.
“The LBX platform’s flexible architecture and API framework have allowed us to easily integrate it with our existing technology and workflows,” said Jack Garceau, chief technology officer at JonesTrading.
“This has made the onboarding process as seamless as possible, and the LiquidityBook team’s ability to meet every milestone on this project further validated our decision.”
Read more: JonesTrading deploys FlexTrade Systems’ FlexOMS to power its sell-side trading desks
By rolling out LiquidityBook’s middle office offering, JonesTrading will now be able to receive trades from disparate OMS platforms and manipulate them appropriately for multiple clearing brokers.
JonesTrading will also be able to interface with CTM and third-party FIX networks to receive and match trades/allocation instructions from customers, alongside being able to leverage LiquidityBook as a firm-wide reporting system for all trading and allocation activity.
“This is an important milestone for our sell-side middle office solutions and a testament to the interoperability and modularity of our framework, as well as the efficiency of our integration and onboarding processes,” said Sayant Chatterjee, chief operating officer at LiquidityBook.