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SaaS-based POEMS with fully integrated managed FIX service designed to meet the unique needs of an outsourced trading desk
Platform currently in use by multiple outsourced trading firms, including JonesTrading
New York-based LiquidityBook, a fintech provider of trading and messaging solutions, has just announced the launch of LBX Outsourced Trader. The advanced POEMS (portfolio, order and execution management system) with fully integrated FIX connectivity has been developed specifically with the unique needs of an outsourced trading firm – who share elements of both a buy- and sell-side trading desk – in mind.
Like all LiquidityBook’s trading solutions, LBX Outsourced Trader is built on a single source code and not an amalgamation of various acquired components. It offers:
- Global, multi-asset trading capabilities providing advanced OMS functionality – including Order and Ticket Staging, Auto Marking, Position Uploads and Stock Locate – all tailored to users’ specific workflow needs.
- Flexible order entry allowing email, text or IM orders to be seamlessly converted to FIX, ready for execution on any venue or by any counterparty.
- A full suite of risk and reporting tools, enabling users to meet all client- and regulatory compliance mandates.
- Integration with all major vendors, primes, custodians and executing brokers, providing a seamless flow of order information throughout the trade lifecycle.
- Fully SaaS-based model providing simple and cost-effective deployment and management, as well as the ability to trade anywhere with hot failover and backup capabilities.
- Fully managed FIX connectivity services – supporting all versions of FIX – for accessing all counterparties across 80 markets globally.
For a confluence of factors – increased technology and regulatory costs, fee pressures, a move to specialization – more and more asset managers are leveraging outsourced trading desks to complement their trading function,” said Sean Sullivan, Chief Revenue Officer at LiquidityBook. “As a result, outsourced trading firms have seen significant upticks in their businesses, but the technologies to support them have not kept pace. We believe we can help meet their unique needs with our powerful yet cost-effective and easy-to- manage solution, and are excited to formally launch LBX Outsourced Trader.
LBX Outsourced Trader is currently in full deployment with several outsourced trading firms, including JonesTrading. LBX Outsourced Trader clients are collectively using it to receive flow from over 600 buy side accounts and execute with more than 200 broker dealer counterparties on their behalf.
Our outsourced trading business is expanding rapidly, but finding a platform that can not only meet our current needs but scale with our growth has been a challenge,” said Jeff LeVeen, Head of Outsourced Trading at JonesTrading. “Our experience with the LiquidityBook platform – from onboarding to management to day-to- day usability – has been an extremely positive one, which has allowed us to focus our attention on providing our clients with the level of service they’ve come to expect from the JonesTrading companies over the last four decades.