IRESS has announced that CMC Markets Institutional, a provider of liquidity solutions used by many banks, brokerages, funds and dealing desks across the globe, has adopted its order management system.
The new order management system helps CMC manage client pre-trade risk, positions, portfolios, margin, order routing and workflow and forms a key component of CMC’s new Prime Derivatives trading platform. This complements CMC’s existing Prime FX platform and allows it to offer advanced trading capability to its institutional and professional clients.
This fully-integrated solution also includes Viewpoint, IRESS’ flagship online trading browser-based front-end, and makes it possible for CMC’s clients to trade over 9,000 single stock CFDs across 20 countries, with trades smart-order-routed directly to a wide range of liquidity venues.
The IRESS solution further complements CMC’s proposition and gives CMC a clear competitive advantage by adding a range of distributed trading applications across desktop, browser and mobile channels. These connected capabilities, integrating to a central order management system and using market data supplied by IRESS, deliver seamless integration for CMC.
Glenn Wilson, Head of Wealth & Trading at IRESS, said:
We’re pleased to be working with CMC Markets to further enhance its proposition. By adopting our market leading trading solution, CMC Markets will be able to target institutional and professional clients with a highly capable trading offering suited to their needs. What this gives over and above the distributed trading platforms is that IRESS technology provides an open access model. This means CMC can now offer these clients FIX and API trading capability integrated directly to IRESS’ order management system.
Richard Elston, Head of Institutional at CMC Markets, commented:
When it came to adding a Prime Derivatives capability to our proposition IRESS was a clear choice and an excellent fit for us. Accessing Prime Brokerage services across all asset classes has become harder in recent years as changes to regulation and approaches to risk management have evolved. Using IRESS’ technology allows CMC Markets to service this market giving clients greater access to trading venues either direct or via algorithmic execution services, all managed by the IRESS order management system and its extensive pre-trade risk controls. We’re excited to be able to offer this new Prime Derivatives capability – it complements the existing Prime FX product suite, delivering a comprehensive, multi-asset solution from a single counterparty to a wider range of participants.