Redburn implements Itiviti’s pre-trade risk framework


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Itiviti, the  global provider of multi-asset trading technology and financial infrastructure, has announced that independent equities broker Redburn has successfully implemented UL Bridge, Itiviti’s modular and scalable connectivity and order routing platform, together with UL Iris, a comprehensive pre-trade risk management solution.

Redburn now has a connectivity solution that augments its Order Management System (OMS) and handles custom FIX messaging in an efficient manner. As a result, Redburn’s agility in making enhancements has significantly improved – the UL Bridge solution provides a customization layer where order and other message transformations can be quickly implemented, tested and deployed on a per customer basis, independent of the OMS. No modifications to the OMS or other systems were required as part of the deployment.

UL Bridge and its modules for monitoring, drill down and exception handling of messages and pre-trade risk management have allowed Redburn to address a range of issues, including implementation of compliance measures for the new MiFID II regulations quickly and cleanly. With the addition of the UL Iris module, the solution also enables the firm to quickly onboard clients with client-specific requirements for automated pre-trade risk checks.

Itiviti’s risk framework is an outstanding feature which demonstrates the power of their modular offering based on UL Bridge,” said Will Winzor-Saile, Execution Architect at Redburn. “Although we were not specifically looking to change our pre-trade risk management at the outset, we recognized the UL Iris pre-trade risk extension would provide flexibility to allow us to improve our general onboarding and connectivity, and more easily meet certain clients’ specialized risk requirements.

Delivered as an extension module to UL Bridge, UL Iris can slot in to perform a range of validation checks on client order flow. It can, for example, compare order price to live market prices to check for price deviation, and – critically – can be customized with client-specific pre-trade rule sets.

We are delighted to partner with Redburn to deliver real business value to them and to their customers,” added Richard Bentley, Chief Product Officer of Itiviti. “The successful implementation of UL Bridge and UL Iris at Redburn demonstrates the power of our modular approach in enhancing the agility of our clients’ technology platforms, allowing them to leverage their existing investments more effectively.

Redburn already has plans to extend the scope of use with UL Iris. The firm has begun to integrate this with their company-wide risk management system to provide automated controls and alerts for counterparty exposure.

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Redburn implements Itiviti’s pre-trade risk framework

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