LiquidityBook, a provider of FIX (Financial Information Exchange) and OMS (Order Management System) trading solutions for both the buy and sell side, has had its SaaS LBX Buyside POEMS selected by three hedge funds, according to a company statement.
LiquidityBook’s LBX Buyside platform was originally deployed late last year by three US-based hedge funds, Pier 88 Investment Partners, Zeo Capital Advisors and Solstein Capital. The most recent integration of LBX’s order and execution management system (POEMS) will aim to help provide a wide range of utilities to each firm.
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This includes an emphasis on portfolio management capabilities such as real-time NAV, full historical P&L, risk management, and reporting functionality. The selection of LiquidityBook’s platform and subsequent deployment are the latest examples of its product penetration in the US, and in particular on the West Coast.
According to Zeo Capital Advisors’ Chief Investment Officer Venk Reddy, in a statement on the deployment: “Our conversations with LiquidityBook have been collaborative with a mutual recognition of evolving together. They were the first vendor who both solved our pain points with regards to trade allocations while engaging as a trusted partner providing a high caliber solution for a small but growing business.”
“Scrutinizing a system’s cost as it pertains to both themselves and their counterparties is a huge priority for most buy side firms today. Our platform, with its extensive flexibility and low overhead requirements, is seen by many investment firms to represent a tremendous value,” explained Sean Sullivan, Chief Revenue Officer at LiquidityBook, in an accompanying statement.