TORONTO, Aug. 15, 2012 /CNW/ - IRESS is pleased to announce the release of its new Canadian Institutional Order Management Solution (OMS). Built on IRESS's widely adopted next generation technology, the solution provides a broad range of institutional trading features such as end-to-end order management, real-time and end-of-day ticketing, automated multicurrency management, basket trading and algorithmic trade execution. The solution, which has been successfully rolled out to over ninety-nine percent of the IRESS customer base, also includes compliance and market data enhancements extending international market data, market and liquidity analysis and consolidated market replay.
"We're very excited to release the Canadian Institutional OMS to our customers," said Michael Harrison, VP of Sales for IRESS Canada. "From managing orders through the full order lifecycle, to increasing trader and firm efficiency through automated execution and currency handling, the solution continues our commitment to enhancing Canadian trading. IRESS is just beginning to leverage the full capabilities of our architecture to ensure we continue to respond to emerging requirements in the Canadian and global marketplaces."
Middle Office Client Order Handling
IRESS' institutional solution supports full life-cycle order management, including access to enhanced post-trade processing, middle office integration and allocation features with real time and end-of-day client and street-side ticketing.
Automated Multi-currency Handling
The institutional solution incorporates the IRESS Multi-currency IOS, a comprehensive suite of automated international currency, commission and FX offset services. These features build on and extend the IRESS North American Trading Module (NATM) already adopted by the majority of US agency desks trading in Canada.
Bulk (Basket) Order and Automated Execution Services
This new release extends capability for bulk order execution with a focus on grouping, filtering and bulk order handling for improved trader efficiency and fast reaction times to changing market conditions, and provides a combination of order entry points including FIX, spreadsheet and phone. To support automated order execution, IRESS provides integrated access to its algorithmic and best market execution strategy engines, enabling traders to leverage internal execution strategies in addition to third-party algorithmic services.
Enhanced Market Data
Extending IRESS' support for an evolving and complex trading marketplace, Market Data services have been enhanced to include anonymous order attribution, expanded international market data coverage and compliance services. IRESS' consolidated market data model seamlessly incorporates ultra-low latency market data from any international and domestic source, giving Canadian traders 'total market' awareness.
Market data consolidation is fully leveraged in IRESS' trade evaluation and compliance suite, including LiquidityView™, Market Replay, Time and Sales and Audit Trail. LiquidityView provides a visual breakdown of security trading and average trade sizes across marketplaces, enabling the trader to rapidly identify which markets are most active for a given security.
Consolidated Market Replay enables both the trader and the firm to 'step through' the trading actions for a given security on a trade-by-trade basis, providing a fully traceable history for strategy and compliance assessment purposes. When combined with consolidated Time and Sales and the Audit Trail, traders and the firm have a powerful toolset for assessing trading activity over a selected time frame.
Commitment to Canadian Trading
The Institutional OMS leverages and builds on IRESS' managed infrastructure in Canada that includes ultra-low latency infrastructure and long term co-location agreements with the TMX Markham and Equinix Toronto datacenters.
"This release clearly continues our commitment to meeting the needs of the Canadian trader," said Jim Davies, CEO of IRESS Canada. "Our focus is to enable Canadian traders through world-class technology, ensuring that the firm can match its trading system to its desired workflow. As a result, firms can focus on what really differentiates them from their competitors while meeting and exceeding the needs of their customers."
IRESS is a leading supplier of sophisticated solutions for financial market participants in Canada and Internationally. Fully customizable, IRESS integrates equities and derivatives trading, automated order management, smart order routing, international market data, and compliance monitoring. Designed for high performance environments, IRESS solutions are fully managed, provide low execution latencies and offer seamless access to specialized markets and strategy engines. Join Canada's leading financial institutions in utilizing the most dynamic, integrated trading application available today.
SOURCE: IRESS Canada Holdings Ltd.
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